SGX M42F Thermal Coal - Daily Update 28 October 2020

50kt traded in the Wednesday T session

    Nov-20 traded 25kt @ $29.35

    Dec-20 traded 25kt @ $30.40

October month-to date:

Futures Volume at a record 628kt, record daily Open interest at 628kt

Total volume since January 2020: 3,351kt

 

Physical

A three-day public holiday has begun in Indonesia, slowing activity from a producers' point of view. There were still cargoes in the market however, mainly in the hands of traders. A deal was heard for a November loading geared vessel done at $28.50/t FOB, basis 3,800 kc NAR, although this could not be confirmed at the time of writing. Offers were reported at $29.50-30.50/t FOB, basis 3,800 kc NAR, for November loading geared vessels and $31.25/t FOB, same basis, for a Panamax. Meanwhile bids for geared vessels were heard at $28.50/t FOB, basis 3,800 kc NAR, for November loading and $29.50/t FOB, same basis, for December.

 

Paper

M42 traded via SGX at $29.35 for November, down on where the month last transacted at $29.55, and December traded at $30.40, which was also lower than its last deal price of $30.75. Earlier in the day, October was bid at $28.00 and offered at $28.40, with November bid at $29.00 and offered at $29.80, while December was bid at $30.35 and offered at $31.00. Further out, January was bid at $30.40 and offered at $31.40, and Q1-21 bid at $30.55 and offered at $32.00.

 

Source: IHS Markit