SGX M42F Thermal Coal - Daily Update 9 September 2019
Tuesday, September 10 2019 - 05:23 PM WIB
September month-to date:
Futures volume at 11kt, open interest at 83kt
Total volume since April 2018: 1.19 million metric tonnes
Physical
There was talk of the government seeking to encourage exports in the second half of the year, to help boost royalties. This, however, was being met with some concern by those that believe that Indonesia is currently over producing and having a negative impact on prices. For low-rank, a bid was heard today for a late September or early October loading Supramax at $32.00/t FOB, basis 4,200 kc GAR. An offer was heard at $33.00/t FOB, basis 3,800 kc NAR, for a September loading geared vessel.
Paper
M42 paper, listed on SGX, continues to firm, with September bid at $32.35 and offered at $33.15, while October was bid at $32.70 and offered at $33.50. An offer was also reported for Q1-20 at $35.25. Spreads were heard for October vs November bid at minus $0.40 and offered at plus $0.55, with November vs December bid at minus $1.75 and offered at plus $0.30.
Source: IHS McCloskey