SGX M42F Thermal Coal - Daily Update 8 March 2021

10kt traded in the Friday T+1 session

NLT

    Apr-21 traded 10kt @ $37.75

Swaps

    NIL

20kt traded in the Monday T session

NLT

    Apr-21 traded 15kt @ $37.50

    Apr-21 traded 5kt @ $37.25

Swaps

    NIL

March month-to date:

Futures Volume at 140kt, Open Interest at 656kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,262kt

 

Physical

Rising freight rates are keeping buyers away, according to some Indonesian coal suppliers. Concerns have intensified that coal prices will continue to be under pressure. "We are worried that buyers begin to delay laycans for March-April cargoes because of high freight rates," a Jakarta-based trading source said. As such, miners are being very conservative in committing to cargoes in April-May amid market uncertainty. Few firm numbers were said to be available at the start of the week, with just an offer reported at $40.00/t FOB, basis 3,800 kc NAR, for an April loading geared vessel.

 

Paper

M42 Traded at $37.25-37.50 over the day, down on Friday's traded level of 37.75. Earlier in the day, M42 was bid for March at $37.50 and offered at $38.75, while April was bid at $37.25 and offered at $37.95. May was bid at $37.00. Further out, Q2-21 was bid at $36.75. Q4-21 was bid at $31.50 and offered at $36.50. A spread for March vs April was bid at M42 plus $0.25 and offered at plus $1.65. A spread for April vs May was offered at M42 plus $0.95.

 

Source: IHS Markit