SGX M42F Thermal Coal - Daily Update 26 May 2020
Wednesday, May 27 2020 - 05:46 PM WIB
30kt traded in Tuesday T Session
Q3-20 traded 30kt @ $29.75
May month-to date:
Futures volume at 223kt, Open interest at 313kt
Total volume since January 2020: 1,217kt
Physical
Indonesian market activity was slow, amid the week-long national holiday, although shipment sales were still being negotiated. For low-rank, a bid was heard at around $29.00/t FOB, basis 3,800 kc NAR, for a June loading geared vessel, against an offer at $30.25/t FOB, same basis. Bids for July loading geared vessels were reported at $28.00-28.50/t FOB, basis 3,800 kc NAR, although an indicative offer was reported at $32.00/t FOB, basis 3,800 kc NAR, for a July loading Panamax.
Paper
M42, listed on SGX, traded a couple of times for Q3-20 at $29.75, up $0.05 on Friday's traded level of $29.70. Later in the day, June was bid at $29.00 and offered at $31.00, while July was bid at $28.90 and offered at $31.00. Spreads were reported for June vs July bid at minus $0.30 and offered at plus $0.50, with July vs August bid at minus $0.30 and offered at plus $0.10. Further out, Q3-20 was bid at $29.25 and offered at $31.00, with Q4-20 bid at $29.10 and offered at $30.50.
Source: IHS McCloskey