SGX M42F Thermal Coal - Daily Update 10 November 2020

40kt traded in the Tuesday T session

    Dec-20 traded 10kt @ $29.90

    Dec-20 traded 30kt @ $29.80

November month-to date:

Futures Volume 151kt, Open interest at 443kt

Total volume since January 2020: 3,581kt

 

Physical

More buying interest started to emerge for December loading Indonesian cargoes. For low-rank, late December cargoes appear to be holding at better levels than more prompt shipments. A deal was understood to have been concluded at around $30.50/t FOB, basis 3,800 kc NAR, for a December loading Panamax. A geared vessel was said to have traded at $29.50/t FOB, basis 3,800 kc NAR, for a late December loading geared vessel, although this could not be confirmed at the time of writing. Offers for Panamaxes were reported at $28.50/t FOB, basis 3,800 kc NAR, for November loading, and $30.50/t FOB, basis 3,800 kc NAR, for December or January loading.

 

Paper

M42 paper traded at $29.80-29.90 for 40,000 t, which is up on the last December transaction level of $29.70 on Friday. Later in the day, November was heard bid at $28.75 and offered at $29.05, while December was bid at $29.60 and offered at $30.00. Further out, a bid for Q1-21 was heard at $29.50. A market for a spread of November vs December was bid at M42 minus $1.25 against an offer at minus $0.55.

 

Source: IHS Markit