SGX M42F Thermal Coal - Daily Update 22 June 2020
Tuesday, June 23 2020 - 06:56 PM WIB
6kt traded in Friday T+1 Session
Q4-20 traded 6kt @ $27.30
June month-to date:
Futures volume at 476kt, Open interest at 371kt
Total volume since January 2020: 1,724kt
Physical
Asia's thermal markets got off to a lackluster start to the week with participants watching to see if there is any change to Chinese import quotas, which continue to constrain flows into the country. Coal suppliers in Indonesia said buying sentiment was weak and that bidding levels were far lower than where they are willing to offer, considering their costs. Low c.v. material was said to be bid at $22.50-23.25/t FOB, basis 3,800 kc NAR, for geared vessels loading in July, but no offers were heard against. A bid for an August loading geared vessel was also heard at $24.00/t FOB, basis 3,800 kc NAR.
Paper
M42, listed on SGX, was bid for June at $25.00 and offered at $26.00, while July was bid at $25.00 and offered at $26.50. August was bid at $26.50 against an offer at $27.20. A market for Q3-20 was heard bid at $26.00 and offered at $27.20, while Q4-20 was bid at $27.00 and offered at $28.00.
Source: IHS Markit