SGX M42F Thermal Coal - Daily Update 14 July 2020

25kt traded in Tuesday T Session

    Aug-20 traded 5kt @ $25.75

    Aug-20 traded 10kt @ $25.80 (Aug-20/Sep-20 spread @ $0.65)

    Sep-20 traded 10kt @ $26.45 (Aug-20/Sep-20 spread @ $0.65)

July month-to date:

Futures volume at 107kt, Open interest at 272kt

Total volume since January 2020: 1,842kt

 

Physical

Chinese interest in Indonesian remains largely quiet as they continue to struggle with import quotas, although Indian buying interest is said to be improving, albeit at limited levels. Bids for August loading geared vessels were reported at $23.35-23.50/t FOB, basis 3,800 kc NAR. Offers were few, reported at $25.00-27.00/t FOB, basis 3,800 kc NAR, for August loading geared vessels.

 

Paper

M42, listed on SGX, traded at $25.75 for August, up on the previous day's $25.50 deal. A spread for August versus September was also done at minus $0.65, with August pegged at $25.80 and September $26.45. Later in the day, July was bid at $23.80 and offered at $24.25, with August bid at $25.75 and offered at $26.40, while September was bid at $26.25 and offered at $27.40. Further out, Q4-20 was bid at $27.50 and offered at $28.45 while Q1-21 was bid at $29.00 and offered at $32.75. Spreads for August vs September were reported bid at minus $1.00 and offered at minus $0.65, while Q3-20 vs Q4-20 was bid at minus $2.75 and offered at minus $2.05.

 

Source: IHS Markit