SGX M42F Thermal Coal - Daily Update 22 February 2021

15kt traded in the Friday T+1 session

NLT

    Mar-21 traded 5kt @ $40.75

    Mar-21 traded 10kt @ $39.75

Swaps

    NIL

20kt traded in the Monday T session

NLT

    NIL

Swaps

    Mar-21 traded 10kt

    Apr-21 traded 10kt

February month-to date:

Futures Volume at 538kt, Open Interest at 934kt

Swaps Volume at 50kt, Open Interest at 50kt

Total volume since January 2021: 2,027kt

 

Physical

With many in China working on Saturday, information was reported from over the weekend, including an offer for low-rank at $42.50/t FOB, basis 3,800 kc NAR, for an early March loading geared vessel. A bid was also heard at above $42.00/t FOB, basis 3,800 kc NAR, for a March loading geared vessel. There were also reports that a deal was done at $40.50/t FOB, basis 3,800 kc NAR, for a March loading geared vessel. Bids were, however, hard to come by, with the bid/offer spread said to be widening, as buyers were not generally willing to follow the higher offers upwards. More recently, offers were heard at $41.00-43.00/t FOB, basis 3,800 kc NAR, for March loading geared vessels. An offer for a slightly lower c.v. cargo was also reported at $41.50/t FOB, basis 3,700 kc NAR, for a March loading geared vessel.

 

Paper

M42 traded at $40.40 for March and $39.65 for April as swaps for 10,000 t each. For M42 futures, March was bid at $39.00 and offered at $40.60, while April was bid at $39.25 and offered at $39.75. A spread for March vs April was bid at M42 plus $0.50 and offered at plus $1.25, while April vs May was bid at plus $0.25 and offered at plus $1.35. May vs June was also heard bid at plus $0.25 and offered at $1.50.

 

 

Source: IHS Markit