SGX M42F Thermal Coal - Daily Update 3 December 2019
Wednesday, December 4 2019 - 06:19 PM WIB
December month-to date:
Open interest at 80kt
Total volume since January 2019: 1,114kt
Physical
Prices were stable in the Asian thermal markets, with some signs of values firming, especially for Indonesian material. Despite India remaining quiet, Chinese enquires were said to have picked up, while sellers seem happy to hold onto cargoes a little longer to see if prices rise further. For low-rank, a trade was done at $34.15/t FOB, basis 3,800 kc NAR, for 50,000 t loading in December. Elsewhere, a Panamax was understood to have transacted at $35.00/t FOB, basis 3,800 kc NAR, for December loading. Offers were reported at $34.60-35.00/t FOB, basis 3,800 kc NAR, for December loading geared vessels. For a January loading geared vessel, a bid was reported at $34.00/t FOB, basis 3,800 kc NAR, against an offer at $34.75/t FOB, same basis.
Paper
M42 paper, listed on SGX, was bid at $34.05 for December and offered at $34.40. January was bid at $34.00 and offered at $34.50, while February was bid at $33.95 and offered at $34.75. A market for Q1-2020 was bid at $33.85 against an offer at $34.75.
Source: IHS McCloskey