SGX M42F Thermal Coal - Daily Update 2 March 2021

20kt traded in the Tuesday T session

NLT

• Mar-21 traded 10kt @ $37.75

• Mar-21 traded 10kt @ $37.50

Swaps

• NIL

March month-to date:

Futures Volume at 30kt, Open Interest at 636kt

Swaps Volume at 0kt, Open Interest at 50kt

 

Total volume since January 2021: 2,152kt

 

Physical

It remains a tough trading environment in Asia's thermal markets, with demand weak, although supply is still tight, leading to wide bid-offer spreads. High freight rates are also hurting activity. A deal was understood to have been concluded earlier in the week at around $40.00/t FOB, basis 3,800 kc NAR, for a prompt loading cargo. An offer for March was heard at $39.00/t FOB, basis 3,800 kc NAR. An offer was reported at $37.00/t FOB, basis 3,800 kc NAR for a second half of April loading geared vessel. A bid was reported at $35.00/t FOB, basis 3,800 kc NAR, for a gearless vessel loading in either March or April.

 

Paper

M42 traded at $37.75 for March today, up on yesterday's trade level of $37.25. It traded again later at $37.50. During day, M42 was bid for March at $37.20 and offered at $37.75, while April was bid at $36.50 and offered at $37.00. May was bid at $35.00. A spread for March vs April was bid at M42 plus $0.70 and offered at plus $1.00, while April vs May and May vs June were bid at plus $0.25.

 

Source: IHS Markit