SGX M42F Thermal Coal - Daily Update 1 November 2019

30kt traded in Friday T Session

• Nov-19 traded 30kt @ $34.15

 

November month-to date:

Futures volume at 30kt, Open interest at 130kt

 

Total volume since January 2019: 979kt

 

Physical

Trades went through for low c.v. material loading in November at slightly higher levels on the week - $34.25-35.50/t FOB, basis 3,800 kc NAR, for geared vessels. Similar grade coal in a Panamax loading in November traded at $36.25/t FOB, basis 3,800 kc NAR. The source from a major Indonesian producer said, "It has been a rather soft rise in prices compared to the weeks prior." The bid-offer spread for December remained wide with offers heard at $36.00/t FOB, basis 3,800 kc NAR, for geared vessels, against bids at $33.60-34.15/t FOB, same basis.

 

Paper

M42 traded via SGX for November at $34.15-$34.25 and December at $34.25, stable to traded levels at the close of the week prior. Fair value for Q1-2020 was $34.50, down from $35.00 last week.

Source: IHS McCloskey