New price index for metallurgical coal
PLATTS, a global energy and commodities information provider, and Shanxi Fenwei Energy Consulting Co, China’s largest coal market information provider, have produced a new metallurgical coal price series for the Chinese market.
The two companies have expanded their China Coal Index series by launching five new daily metallurgical coal assessments known as China Coal Index — Metallurgical (CCI Met). The new price assessments will be accompanied by market commentaries on factors influencing daily price movements and market sentiment.
“Trading in and around the Chinese market has increased in sophistication. As China continues to act as a major clearing market for seaborne met coal, reliable metrics for domestic and international arbitrage will become ever more critical,” said Patrick Bradley, Platts commercial director of global coal.
“These new assessments will continue to leverage the combination of Fenwei’s reach in the domestic market with Platts’ globally recognized price assessment expertise in the field of metallurgical coal.”
The CCI Met price assessments reflect the transactable value of metallurgical coal expressed in yuan per ton.
“Chinese metallurgical coal buyers and sellers who actively engage in our price discovery process can help create useful new references in a historically complex and opaque market,” said Julien Hall, Platts analyst for metallurgical coal and steel raw materials in Asia.
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