SGX M42F Thermal Coal - Daily Update 9 July 2020

10kt traded in Thursday T Session 

• Aug-20 traded 10kt @ $25.30

July month-to date:

Futures volume at 72kt, Open interest at 266kt

 

Total volume since January 2020: 1,807kt

 

Physical

Asian thermal markets remained largely unchanged with bid-offer spreads seemingly too wide to encourage much activity. Prices for Indonesian were relatively range bound although pockets of activity were reported. Low-rank deals were understood to have traded over the week at $22.75-23.50/t FOB, basis 4,200 kc GAR, for August loading geared vessels. Bid-offer spreads were seemingly too wide to encourage much activity, with a bid also reported at $23.00/t FOB, basis 3,800 kc NAR, for an August loading geared vessel, with an offer against at $25.55/t FOB, same basis.

 

Paper

A national holiday in Singapore on Friday for a General Election led to little paper activity. M42, listed on SGX, traded on Thursday for August, up on the previous day's traded level of $25.05-25.25. Earlier in the day, July was bid at $23.10 and offered at $24.50, with August bid at $25.20 and offered at $25.75, while September was bid at $25.25 and offered at $26.25. Further out, Q4-20 was bid at $27.50 and offered at $28.45 while Q1-21 was bid at $27.50 and offered at $32.50. Spreads were reported for July vs August bid at M42 minus $1.20 and offered at minus $0.50, with August vs September bid at minus $1.15 and offered at minus $0.50.

 

Source: IHS Markit