SGX M42F Thermal Coal - Daily Update 19 October 2020

14kt traded in Monday T session

    Nov-20 traded 5kt @ $29.80

    Dec-20 traded 7kt @ $31

    Dec-20 traded 2kt @ $30.75

October month-to date:

Futures volume at 266kt, Open interest at 480kt

Total volume since January 2020: 2,989kt

 

Physical

Suppliers in Indonesia are beginning to struggle with heavier rain at mine sites, making it difficult to increase production even amid rallying prices. "It's quite difficult to lift output during monsoon," a mining source explained. For low-rank, offers were reported for November loading geared vessels at $31.00-31.25/t FOB, basis 3,800 kc NAR. For December loading, buyer and sellers were far apart, with a geared vessel heard bid at $28.00/t FOB, basis 3,800 kc NAR, and offered at $32.00/t FOB, same basis. On an index linked-basis, a December loading geared vessel was bid at M42 minus $0.75/t against an offer at minus $0.20/t.

 

Paper

M42 traded via SGX for December at $30.75-31.00, up from $30.55 where it last traded last week. November also traded at $29.80 today, down marginally from its last traded level late last week of $30.00. Earlier in the day, M42 was bid for October at $28.15 and offered at $28.70, while November was bid at $29.20 and offered at $30.00. December was bid at $30.25 and offered at $31.00. Spreads were heard bid at minus $1.20, for November vs December, and offered at minus $0.25. December vs January was bid at minus $1.00 and offered at flat ($0.00), while January vs February was bid at minus $0.80 and also offered flat ($0.00).

 

 

Source: IHS Markit