Platts and Shanxi Fenwei Energy Consulting Company have deepened their partnership to produce a new independent, editorially-assessed metallurgical coal price series for the Chinese domestic market.
The two companies have expanded their China Coal Index (CCI) series with the introduction of 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," said Patrick Bradley, Platts commercial director of global coal. "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. These new assessments will continue to leverage the unique combination of Fenwei's unparalleled reach in the domestic market with Platts' recognised price assessment expertise in the field of metallurgical coal."
The CCI Met price assessments reflect the transactable value of metallurgical coal expressed in Chinese Yuan per metric t.
"Based on Platts' robust price assessment methodologies, the new CCI Met assessment will bring greater transparency and insights into the domestic coking coal market," said Julien Hall, senior managing editor for metallurgical coal and steel raw materials in Asia. "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."
Adapted from press release by Joseph Green
Read the article online at: https://www.worldcoal.com/coal/13042015/platts-fenwei-china-metallurgical-coal-2169/