SGX M42F Thermal Coal - Daily Update 3 August 2020
Tuesday, August 4 2020 - 05:56 PM WIB
August month-to date:
Futures volume at 0kt, Open interest at 359kt
Total volume since January 2020: 2,140kt
Physical
Bid-offer spreads remained wide, with suppliers currently holding firm to their selling price levels, although demand appears to be easing once again, especially from China. Indonesian low-rank was offered between $25.00-26.00/t FOB, basis 3,800 kc NAR, in geared vessels loading in September, with bids reported at $23.50-25.00/t FOB, same basis. Further out, a market for a geared vessel loading in October was heard bid at $25.00/t FOB, basis 3,800 kc NAR, against an offer at $27.25/t FOB, same basis.
Paper
M42, listed on SGX, saw August bid at $24.85 and offered at $25.65, with September bid at $25.70 and offered at $26.40. Further out, Q4-20 was bid at $27.75 and offered at $28.25, with Q1-21 bid at $28.75 and offered at $31.00. As of the end of last week, total tonnage of M42 traded on SGX since launch surpassed 4 mt.
Source: IHS Markit