globalCOAL has announces that it is introducing spot and forward markets for premium low volatile metallurgical coal on its online coal trading platform, starting 9 October 2019.
The new product, HCCLV, will initially allow delivery of BHP Mitsubishi Alliance (BMA) Saraji Coking Coal and Peak Downs Coking Coal on a FOB Australia basis. HCCLV bolsters globalCOAL’s Australian origin metallurgical coal offering, which already includes successful markets in premium medium volatile metallurgical coal (HCCA). More than 9.1 million t of physical HCCA coal have been transacted on the globalCOAL platform since the launch of the product in October 2015.
Additionally following consultation with the market, a revised version of HCCA will be effective from 6 January 2020 to ensure that the relevant standard specification of the product offering are aligned with market requirements.
“Price visibility is a major issue in the [metallurgical] coal market,” commented Philip Shawcross, Head of Metallurgical Coal at globalCOAL.
“Bringing the trade of premium low volatile coals onto a transparent online environment will make a significant difference to the amount of reliable pricing information available to market participants – as well as facilitate the spot trade of these coals.”
Martin Abbott, CEO of globalCOAL, added: “globalCOAL’s product portfolio already spans the world’s most liquid seaborne thermal coal hubs. Our metallurgical coal offering continues to grow, trading volumes are increasing, and we will continue to reflect the market realities with our product development.”