SGX M42F Thermal Coal - Daily Update 8 July 2020

32kt traded in Wednesday T Session 

• Aug-20 traded 2kt @ $25.25

• Aug-20 traded 6kt @ $25.05 (Aug-20/Q4-20 spread @ $2.80)

• Q4-20 traded 6kt @ $27.85 (Aug-20/Q4-20 spread @ $2.80)

• Q3-20 traded 9kt @ $25.20 (Q3-20/Q4-20 spread @ $2.70)

• Q4-20 traded 9kt @ $27.90 (Q3-20/Q4-20 spread @ $2.70)

July month-to date:

Futures volume at 62kt, Open interest at 266kt

 

Total volume since January 2020: 1,797kt

 

Physical

There was talk of a Indonesian low-rank deal being done into China at $23.00/t FOB, basis 3,800 kc NAR, for a July loading geared vessel. While this could not be confirmed at the time of writing, a deal was known to have been done at the same level earlier in the week. It was also said that a Panamax traded at $25.50/t FOB, basis 3,800 kc NAR, but this too could not be confirmed. A market for a low-rank cargo into China was reported bid at $22.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel, against an offer at $23.50/t FOB, same basis, However, elsewhere, a bid was reported at $23.20/t FOB, basis 3,800 kc NAR, for an August loading geared vessel, with the offer against at $25.55/t FOB, same basis.

 

Paper

M42, listed on SGX, traded at $25.05-25.25 today for August, down on yesterday's traded level of $25.50. Deals for Q3-20 and Q4-20 were also concluded at $25.20 and $27.85-27.90 respectively. Other than the deals, July was bid at $23.25 and offered at $24.50, with August bid at $24.55 and offered at $25.50, while September was bid at $25.00. Further out, Q4-20 was bid at $27.20 and offered at $28.00, while Q1-21 was bid at $27.50. A bid for Cal-20 was also reported at $28.00. Spreads were reported for July vs August bid at M42 minus $2.00 and offered at minus $0.75, with August vs September and September vs October both bid at minus $1.00 and offered at minus $1.40.

 

Source: IHS Markit.