SGX M42F Thermal Coal - Daily Update 5 February 2021

45kt traded in the Friday T session 

• Feb-21 traded 10kt @ $38.25

• Feb-21 traded 10kt @ $38.10

• Feb-21 traded 20kt @ $38.00

• Mar-21 traded 5kt @ $37.50

 

5kt traded in the Friday T+1 session 

• Feb-21 traded 5kt @ $38.00

 

February month-to date:

Futures Volume at 159kt, Open Interest at 829kt

 

Total volume since January 2021: 1,598kt

 

Physical

Deals for Indonesian low-rank material traded sharply lower at the start of this week on the back of freefalling Chinese domestic futures prices. However, the market found some support towards the latter part. March loading cargoes were heard traded at around $42.00/t FOB, basis 3,800 kc NAR, for geared vessels at the start of the week but quickly dropped midweek to $38.25-39.00/t FOB, same basis. Traded levels, however, firmed by Friday with a deal heard concluded at $40.00/t FOB, basis 3,800 kc NAR, which, while an improvement, remained significantly lower than transacted prices last week at $45.50/t FOB, same basis 3,800 kc NAR, for a geared vessel. The bid-offer gap for April was wide, with markets heard offered at $38.00-42.50/t FOB, basis 3,800 kc NAR, against bids at $34.75-35.00/t FOB, same basis. Last week, markets for April were bid at $38.20-40.45/t FOB, basis 3,800 kc NAR, against offers at $44.75-45.05/t FOB, same basis.

 

Paper

Paper trading in Asia focused on the prompt with M42 trading via SGX for February at $36.00/t at the start of week before picking back up to around $38.00-38.25/t as the week closed. A week back, February M42 traded at $44.40-45.00/t. March traded at $37.50-38.00/t, down from $41.25-42.85/t, last week.

 

Source: IHS Markit