SGX M42F Thermal Coal - Daily Update 9 June 2020

100kt traded in Tuesday T Session

    Jun-20 traded 5kt @ $26.00 (Jun-20/Jul-20 spread @ $0)

    Jul-20 traded 5kt @ $26.00 (Jun-20/Jul-20 spread @ $0) 

    Jul-20 traded 45kt @ $26.50

    Q3-20 traded 45kt @ $26.70

June month-to date:

Futures volume at 306kt, Open interest at 368kt

Total volume since January 2020: 1,554kt

 

Physical

Indonesian coal suppliers remarked that prompt buying sentiment remains weak with bidding levels decreasing further. Offer levels for low-rank were falling fast as Chinese buying appeared to have dried up amid import constraints in China, with prompt loading cargoes said to be under the most pressure. A trade was reported at $26.00/t FOB, basis 3,800 kc NAR, for a geared vessel loading in June. However, elsewhere, a June loading geared vessel was heard offered at $25.50-26.00/t FOB, basis 3,800 kc NAR, against a non-Chinese bid at $25.00/t FOB, same basis. Offers for a geared vessel loading in July were heard at $27.00-27.75/t FOB, basis 3,800 kc NAR, with bids reported at $25.00-26.00/t FOB, same basis.

 

Paper

M42, listed on SGX, traded for July vs Q3-20 at $0.20 for a total of 90,000 t, which equated to July at $26.50 and Q3-20 at $26.70. Following the deal, June was bid at 26.25 and offered at $27.10, while July was bid at $26.25 and offered at $27.00. Further out, Q3-20 was bid at $26.50 and offered at $27.50, with Q4-20 bid at $27.10 and offered at $28.40. However, later in the evening, June and July both traded lower at $26.00.

 

 

Source: IHS McCloskey