SGX M42F Thermal Coal - Daily Update 9 December 2020

5kt traded in the Wednesday T session

    Jan-21 traded 5kt @ $37.15

December month-to date:

Futures Volume 125kt, Open interest at 437kt

Total volume since January 2020: 3,804kt

 

Physical

Prices for Indonesian cargoes were understood to be rising still, although bid-offer spreads had widened, with sellers holding out as long as they can, hoping for better prices. A December loading geared vessel was heard bid at just below $35.00/t FOB, basis 3,800 kc NAR, with an offer against at $37.00/t FOB, same basis. Bids for January were said to be around $35.00/t FOB, basis 3,800 kc NAR, in a geared vessel. Further out, a deal was heard done at $36.40/t FOB, basis 4,200 kc GAR, for a late January, early February loading Panamax of low-sulphur material. A bid for a February loading geared vessel was heard at $34.75/t FOB, basis 3,800 kc NAR.

 

Paper

M42 traded at $37.15 for January, up on the last January deal done at $36.90 the previous day. Earlier in the day, M42 was bid for December at $34.50 and offered at $36.00, while January was bid at $36.95 and offered at $37.20. February was bid at $35.00 and offered at $37.75, with March bid at $34.35 and offered at $38.35. Q1-21 was bid at $36.00 and offered at $37.20. A market for February vs March was also heard, bid at M42 minus $0.50 and offered at plus $0.75, while March vs April was bid at minus $0.60 and offered at plus $0.65.

 

 

Source: IHS Markit