SGX M42F Thermal Coal - Daily Update 24 November 2020

5kt traded in the Tuesday T session

    Dec-20 traded 5kt @ $32

November month-to date:

Futures Volume 219kt, Open interest at 550kt

Total volume since January 2020: 3,649kt

 

Physical

Price sentiment remains strong in the Asian thermal markets, although, with offers moving higher, buyers were holding off before doing deals and waiting to see if things would settle down. Rain was understood to have been persisting and increasing in intensity in some mining regions in Indonesia, although it was said to have had limited impact on production so far. For low-rank, offers were reported at $32.00-33.00/t FOB, basis 3,800 kc NAR, for December loading Panamaxes. Offers were also heard at $29.70/t FOB, and $30.70/t FOB, basis 4,100 kc NAR, for December loading geared vessels and a Panamax, respectively.

 

Paper

M42 paper traded at $32.00 for December, up from the $29.70 where it last traded, and its highest level since March. Later in the day, November was bid at $29.60 and offered at $30.30, while December was bid at $31.60 and offered at $32.50. Spreads for December vs January were bid at M42 minus $0.95 and offered at flat $0.00, while January vs February was bid at minus $0.65 and also offered at flat $0.00. Farther out, Q1-21 vs Q2-21 was bid at M42 minus $2.00 against an offer at flat $0.00, with Q2-21 vs Q3-21 bid at minus $1.75 and offered at plus $0.25, and Q3-21 vs Q4-21 bid at minus $2.00 and offered at flat $0.00.

 

Source: IHS Markit