SGX M42F Thermal Coal - Daily Update 30 June 2020
Wednesday, July 1 2020 - 04:26 PM WIB
June month-to date:
Futures volume at 487kt, Open interest at 239kt
Total volume since January 2020: 1,735kt
Physical
Asia's thermal markets remain subdued, as participants await any indication that things are likely to change with regards the Chinese import quota system, which has been choked since earlier in the month. Indonesian 3,800 kc NAR traded via globalCOAL in the Singapore afternoon session at $23.30/t FOB, basis 3,800 kc NAR, for 50,000 t for July. Earlier in the day, bids for low-rank were heard at $23.00-23.50/t FOB, basis 3,800 kc NAR, for geared vessels loading in July, while a bid for an August loading geared vessel was reported at $23.00/t FOB, same basis.
Paper
M42, listed on SGX, was bid for July at $24.35 and offered at $25.00, with August bid at $24.00 and offered at $26.50. Further out, Q4-20 was bid at $26.10 and offered at $28.00. An offer for a spread of July vs August was reported at M42 minus $0.50.
Source: IHS Markit