SGX M42F Thermal Coal - Daily Update 11 May 2020
Tuesday, May 12 2020 - 06:46 PM WIB
May month-to date:
Futures volume at 7kt, Open interest at 119kt
Total volume since January 2020: 1,001kt
Physical
Spreads are still wide for Indonesia low-rank cargoes, although bids appear to have improved a little from this time last week. A bid was reported at $24.00/t FOB, basis 3,800 kc NAR, for a June loading geared vessel, although the offer against was much higher, at $29.00/t FOB, same basis. Other offers were reported at $25.50/t and $27.00/t FOB, basis 3,800 kc NAR, for June loading geared vessels out of South and East Kalimantan, respectively. A bid for a July loading geared vessel was also reported at $25.00/t FOB, basis 3,800 kc NAR.
Paper
M42, listed on SGX, was bid at $24.75 for May. June was bid at $25.25 and offered at $26.15, while July was bid at $25.85. A spread for May vs June was offered at minus $0.20, while June vs July was offered at minus $0.80. Further out, Q3-20 was bid at $28.25 and offered at $29.25, with Q4-20 offered at $30.25.
Source: IHS McCloskey