SGX M42F Thermal Coal - Daily Update 3 November 2020

4kt traded in the Tuesday T session

• Dec-20 traded 2kt @ $29.65

• Dec-20 traded 2kt @ $29.50

 

November month-to date:

Futures Volume 84kt, Open interest at 422kt

 

Total volume since January 2020: 3,514kt

 

Physical

Limited activity was reported from Indonesia, although the lack of buying interest was countered by poor weather hampering production and distribution across mining regions. Low-rank was said to have traded at $28.25/t FOB, basis 3,800 kc NAR, for a late November loading geared vessel. A bid was still reported at $27.75/t FOB, basis 3,800 kc NAR, for a November loading geared vessel, with offers said to be around $28.50/t FOB, same basis. For December loading geared vessels, a bid was reported at $28.50/t FOB, basis 3,800 kc NAR, with offers heard at $30.00/t FOB, same basis.

 

Paper

M42 traded via SGX for December at $29.50-29.65, similar to yesterday's trade level of $29.60. Earlier in the day, M42 was bid at $29.00 and offered at $29.65 for December, while January was bid at $29.75 and offered at $30.75. Further out, Q1-21 was bid at $30.00 and offered at $31.55. Spreads were reported for November vs December bid at M42 minus $1.50 and offered at minus $0.20. Q1-21 vs Q2-21 was bid at minus $2.50 and offered at minus $0.55, while Q2-21 vs Q3-21 was bid at minus $1.75 and offered flat. Finally, Q3-21 vs Q4-21 was bid at minus $2.50 and offered at minus $0.55.

 

Source: IHS Markit