SGX M42F Thermal Coal - Daily Update 8 June 2020
Tuesday, June 9 2020 - 06:01 PM WIB
20kt traded in Monday T Session
Jun-20 traded 5kt @ $26.50
Jul-20 traded 5kt @ $26.65
Jul-20 traded 10kt @ $26.50
June month-to date:
Futures volume at 206kt, Open interest at 360kt
Total volume since January 2020: 1,454kt
Physical
Chinese import restrictions continue to dominate sentiment in Asian thermal markets, following reports late last week that some ports and companies have already reached their quotas for the year. More offers than bids were reported for Indonesian cargoes. For low-rank, a deal was heard at $26.75/t FOB, basis 3,800 kc NAR, for a June loading geared vessel. An offer was also heard at $27.00/t FOB, basis 3,800 kc NAR, for a June loading geared vessel. For July loading, an offer was reported at $28.00/t FOB, basis 3,800 kc NAR, also for a geared vessel.
Paper
M42, listed on SGX, traded for June at $26.50, the same level as deals on Friday, while July traded at $26.50-26.65, down on the last reported trade level of $27.50. Earlier in the day, June was bid at $26.00 and offered at $27.10, with July bid at $26.75 and offered at $27.50. Further out, Q4-20 was bid at $27.00 and offered at $29.40, with Q1-21 bid at $28.75 and offered at $30.25.
Source: IHS McCloskey.