SGX M42F Thermal Coal - Daily Update 8 November 2019

27kt traded in Friday T session

• Q1-20 traded 15kt @ $33.85

• Cal-20 traded 12kt @ $34.10

 

November month-to date:

Futures volume at 82kt, Open interest at 127kt

 

Total volume since January 2019: 1031kt

 

Physical

Prices for Indonesian coal over the week, reflective of slower activity arising from uncertainty in China. Low-rank material traded at around $34.25/t and $35.00/t FOB, basis 3,800 kc NAR, for a geared and Panamax vessel respectively, loading in late November early December.  This was lower than where similar grade coal transacted last week at $34.75-35.00/t FOB, same basis, for geared vessels and at $36.25/t FOB, same basis, for a Panamax. The bid-offer gap remained wide for December loading material with offers at $34.00-35.00/t FOB, basis 3,800 kc NAR, while bid prices remained stable on the week at $33.50-34.00/t FOB, same basis. On a China-delivered basis, low-rank material traded at $41.50/t CFR, basis 3,800 kc NAR, for a Panamax arriving into Guangdong in November.

 

Paper

M42 paper traded via SGX for Cal-20 at $34.10 late on Friday. This down on the last Cal-20 trade done at $35.00. Q1-20 also traded, holding at $33.85 the same level as it previously traded earlier in the week, but done on the week before. November traded twice over the week at $33.95 and $34.00.

 Source: IHS McCloskey