SGX M42F Thermal Coal - Daily Update 9 March 2021

50kt traded in the Tuesday T session

NLT

Apr-21 traded 40kt @ $37.25

Mar-21 traded 5kt @ $38.00 (Mar-21/Apr-21 spread @ $0.75)

Apr-21 traded 5kt @ $37.25 (Mar-21/Apr-21 spread @ $0.75)

Swaps

NIL

March month-to date:

Futures Volume at 190kt, Open Interest at 676kt

Swaps Volume at 0kt, Open Interest at 50kt

Total volume since January 2021: 2,312kt

 

Physical

High freight rates continue to make spot deals difficult for Indonesian material, with buyers preferring to hold off where possible. For low rank-rank, March loading Panamaxes were heard offered at $41.00-42.50/t FOB, basis 3,800 kc NAR. Offers were also reported at $38.00-39.20/t FOB, basis 3,800 kc NAR, for geared vessels loading in April. Meanwhile, a bid for a geared vessel loading in May was reported at $35.50/t FOB, basis 3,800 kc NAR. A bid for a Panamax loading in April was reported at $38.00/t FOB, basis 3,800 kc NAR.

 

Paper

M42 traded at $37.25 for April for 35,000 t and $38.00 for March for 5,000 t in the morning session. This was at the bottom end of yesterday's traded range of $37.35-37.50 for April. The March deal was done at $38.00, up on where it last traded last week at $37.65. During the day, March was bid at $37.50 and offered at $38.50, while April was bid at $37.15 and offered at $37.50. Further out, Q3-21 was bid at $31.00, while Q4-21 was bid at $31.50 and offered at $36.50.

 

Source: IHS Markit