SGX M42F Thermal Coal - Daily Update 31 December 2020
Monday, January 4 2021 - 08:20 PM WIB
Total 2020 volume at a record of 4.7 million MT
23kt traded in the Thursday T session
• Jan-21 traded 20kt @ $43.85
• Q1-21 traded 3kt @ $42.20
December month-to date:
Futures Volume at a record 976kt, Open interest at 552kt
Total volume since January 2020: 4,655kt
Physical
New Year's Eve was a slow day for Indonesian markets, although prompt prices for low-rank were relatively stable for January loading cargoes, and dipping a little for February loading. Producers said it was difficult to plan beyond February and expect China's performance post-Lunar New Year to determine market direction for the first quarter. Until then, miners expect supply for January and February to remain tight as many have yet to receive their RKAB (Work and Budget Plan) approvals from the Ministry of Energy and Mineral Resources (ESDM). A Panamax was heard trading at $45.00/t FOB, basis 3,800 kc NAR, for January loading. For lower c.v. material, an offer was reported at $37.50/t FOB, basis 3,800 kc GAR, for a February loading geared vessel.
Paper
It was also a slow day for paper in Asian trading. M42 traded a couple of times at $43.85 for January, up on its last traded value of $43.75. A Q1-21 traded at $42.20. Through the day, M42 was heard bid for January at $43.75, and offered at $44.50, while March was offered at $41.15. A market for Q1-21 was bid at $41.00 and offered at $42.50. A spread for February vs March M42 was bid at plus $1.40.
Source: IHS Markit