SGX M42F Thermal Coal - Daily Update 12 February 2021
Monday, February 15 2021 - 06:40 PM WIB
February month-to date:
Futures Volume at 456kt, Open Interest at 901kt
Swaps Volume at 0kt, Open Interest at 30kt
Total volume since January 2021: 1,925kt
Physical
Prices for Indonesian material started to stabilise as China bowed out of the market amid the Lunar New Year holidays this week, slowing the trend of fast falling prices in the weeks prior. Trades for low-rank settled at $38.60-39.50/t FOB, basis 4,200 kc GAR, for March loading geared vessels. Last week, March loading cargoes transacted at a high of $43.00/t FOB, basis 3,800 kc NAR, for geared vessels at the start of the week before quickly dropping midweek to $38.25/t FOB, same basis. Markets for March were heard bid at $37.00-39.00/t FOB, basis 3,800 kc NAR, for geared vessels, against an offer at $40.00/t FOB, same basis. A bid for April emerged at $34.00/t FOB, basis 3,800 kc NAR, for a geared vessel, but did not attract any offers.
Paper
Paper trading in Asia remained active over the week, although Friday was closed for Lunar New Year. Through the week, M42 traded via SGX for February at $38.10-39.00/t, compared with $36.00-44.00/t last week. March deals settled at $37.10-39.40/t, versus a range of $37.50-38.00/t, a week ago. M42 April traded at $37.00-38.50/t.
Source: IHS Markit