SGX M42F Thermal Coal - Daily Update 11 June 2020
Friday, June 12 2020 - 05:43 PM WIB
June month-to date:
Futures volume at 316kt, Open interest at 378kt
Total volume since January 2020: 1,564kt
Physical
Low-rank prices remain under pressure as participants try to unravel the situation with tight import quotas in China. With it currently looking like a significant number of buyers will be out of quota by the end of June or July, those who are long coal are wondering where they will be able to place it. Deals were said to have been concluded at $24.80/t FOB and $25.00/t FOB, basis 3,800 kc NAR, for July loading geared vessels, although these could not be confirmed at the time of writing. An offer was reported earlier in the day for a July loading geared vessel at $26.85/t FOB, basis 3,800 kc NAR.
Paper
M42, listed on SGX, was bid at $25.40 and offered at $26.50, while August and September were both bid at $25.50. A spread for July versus August was offered at minus $0.20. Further out, Q3-20 was bid at $25.50, with a market for November bid at $26.40 and offered at $27.60. A market for Q1-21 was bid at $28.50 and offered at $30.25.
Source: IHS McCloskey