SGX M42F Thermal Coal - Daily Update 11 November 2020

51kt traded in the Wednesday T session

• Dec-20 traded 44kt @ $29.95

• Dec-20 traded 2kt @ $29.90

• Jan-21 traded 5kt @ $30.60

 

November month-to date:

Futures Volume 202kt, Open interest at 489kt

 

Total volume since January 2020: 3,632kt

 

Physical

Heavy rains were said to still be impacting production and logistics in some mining areas across Kalimantan. Supply was, however, said to be mainly keeping up with orders. Bids for December loading geared vessels were heard at $29.00-29.50/t FOB, basis 3,800 kc NAR. A bid was also heard at $29.50/t FOB, basis 3,800 kc NAR, for a January loading geared vessel.

 

Paper

M42 paper traded at $29.90 in the morning session, which was the same level as the previous day's last December transaction. December traded later in the afternoon session, a little higher at $29.95. January also traded at $30.60, up from its last traded value of $30.50. Otherwise, November was heard bid at $28.60 and offered at $29.05, while December was bid at $29.80 and offered at $30.30. January was bid at $30.00 and offered at $30.60. Further out, a bid for Q1-21 was heard at $30.20. A market for a spread of November vs December was bid at M42 minus $1.50 against an offer at minus $0.75, while December vs January was bid at minus $0.70 and offered at plus $1.50. January vs February was bid at minus $0.85 and offered at minus $0.10, and February vs March was bid at minus $0.75 and offered at minus $0.05.

 

Source: IHS Markit.