SGX M42F Thermal Coal - Daily Update 4 November 2019

20kt traded in Monday T Session

• Nov-19 traded 5kt @ $33.95

• Q1-20 traded 15kt @ $33.85

 

November month-to date:

Futures volume at 50kt, Open interest at 128kt

 

Total volume since January 2019: 999kt

 

Physical

Another tightening of Chinese import restrictions resulted in fewer bids being reported in the Asian thermal market today, as buyers retreated to await a clearer understanding of the situation. On Friday, deals for low-rank were reported at $34.25-34.50/t FOB, basis 3,800 kc NAR, for December loading geared vessels. Today, Panamaxes were offered at $36.00-36.50/t FOB, basis 3,800 kc NAR, for December loading. Last week, a Panamax was understood to have traded at $36.25/t FOB, basis 3,800 kc NAR, for November loading. For geared vessels, a bid was reported at $33.50/t FOB, basis 3,800 kc NAR, for December loading, against an offer at $35.00/t FOB, same basis.

 

Paper

M42, listed on SGX, traded at $33.95, down following a deal late on Friday at $34.15 for 30,000 t also for November. A deal for Q1-20 was also concluded today at $33.85.  Earlier in the day, November was at bid at $33.65 and offered at $34.15, while December was bid at $33.55 and offered at $34.25. Further out, Q1-20 was bid at $33.85 and offered at $34.80. Calendar-20 was bid at $34.20 and offered at $34.70.

Source: IHS McCloskey.