SGX M42F Thermal Coal - Daily Update 12 November 2020

2kt traded in the Thursday T session

    Dec-20 traded 2kt @ $30

November month-to date:

Futures Volume 204kt, Open interest at 491kt

Total volume since January 2020: 3,634kt

 

Physical

Some of the momentum appears to have come out of the market in the second half of the week, with low-rank prices not really moving up any higher than where they were seen in the first half of the week. A December loading geared vessel was reported bid at $28.00/t FOB, basis 3,800 kc NAR, against an offer at $29.00/t FOB, same basis.

 

Paper

M42 traded at $30.00 for December, up for 29.95 the previous day. Earlier in the day, November was bid at $28.75 and offered at $29.05, while December was bid at $29.80 and offered at $30.00. January was bid at $30.30 and offered at $30.90. Further out, a bid for Q1-21 was heard at $30.20 and offered at $32.00. A market for a spread of December vs January was bid at $1.00 and offered at minus $0.50. 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. For Q1-21 vs Q2-21, a bid was reported at M42 minus $2.50 against an offer at minus $0.55, while Q2-21 vs Q3-21 was bid at minus $1.75 and offered at flat to index. Further out, Q3-21 vs Q4-21 was bid at minus $2.50 and offered at minus $0.55.

 

Source: IHS Markit