The Singapore Stock Exchange reported Monday a total volume of 1.27 million mt of coking coal traded in May in the PHCC FOB Australia futures contract.
This was up 76.9% from April, and was the highest monthly trading volume since April 2018 when the PHCC FOB Australia futures contract traded 1.69 million mt in total. A new all-time high of 2.91 million mt was also recorded for the combined open interest of futures and options on Thursday, before the May contract went into cash settlement on Friday.
A broker said the volume was supported by a couple of new participants entering the market, a return of volume in the calendar strips, and some larger-sized options going through.
Anglo Pacific Group plc (LON:APF) owns 50% of certain sub-stratum lands which, under Queensland law, entitle it to coal royalty receipts from the Kestrel mine. Kestrel is an underground coal mine located in the Bowen Basin, Queensland, Australia. It is operated by Rio Tinto Limited (‘Rio Tinto’).