SGX M42F Thermal Coal - Daily Update 9 October 2019
Thursday, October 10 2019 - 05:09 PM WIB
October month-to date:
Futures volume at 25kt, Open interest at 153kt
Total volume since January 2019: 867kt
Physical
Chinese buyers are understood to be in a wait-and-see mode as they await more updates from authorities on their import quotas. Loading activity out of Balikpapan Coal Terminal continues to be at a minimum level over low draught problems, which have persisted for weeks, a Jakarta-based shipping agent said. For low-rank, bids were said to be heading higher. A bid was reported at $33.00/t FOB, basis 3,800 kc NAR, for 55,000 t loading in November in a geared vessel. Elsewhere, an offer for a geared vessel was reported at around $34.00/t FOB, basis 4,200 kc GAR, for November loading. A bid was heard at $34.00/t FOB, basis 3,800 kc NAR, but for a Panamax, also loading in November.
Paper
Prompt paper prices little changed in Asian trading. M42, listed on SGX, was bid for October at $32.90 and offered at $33.95, while November was bid at $33.35 and offered at $34.35, after trading yesterday at $34.00 for 25,000 t. A bid was reported at $33.10 for Q4-19, while Q1-20 was bid at $34.00.
Source: IHS McCloskey.