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This is due to the illiquid nature of the spot market, which has been further affected by China’s ongoing ban on Australian coal.
The specifications with proposed amendments in italics are as follows:
MB-COA-0007 PCI low-vol, cfr Jingtang, $/dmt Quality: VM (ad) base 13%; ash (ad) base 9%; sulfur (ad) base 0.5%; phosphorus (ad) base 0.1%; TM (ar)base 10% Quantity: Min 10,000 tonnes Location: cfr Jingtang Timing: Seaborne, laycan within 60 days Unit: USD/dmt Payment Terms: Letters of Credit on sight Publication: Weekly. Friday at 6.30pm Singapore time Notes: All origins
MB-COA-0008 PCI low-vol, fob DBCT, $/dmt Quality: VM (ad) base 13%; ash (ad) base 9%; sulfur (ad) base 0.5%; phosphorus(ad) base 0.1%; TM (ar)base 10% Quantity: Min 10,000 tonnes Location: fob Australia Timing: Seaborne, laycan within 60 days Unit: USD/dmt Payment Terms: Letters of Credit on sight Publication: Weekly. Friday at 6.30pm Singapore time Notes: Origin Australia
The consultation period for this proposed amendment starts on Thursday February 11 and will end on Thursday March 11. The amendment, subject to market feedback, will be implemented on Monday March 15.
To provide feedback on these indices or if you would like to provide price information by becoming a data submitter to these indices, please contact Li Min by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Li Min, re: Fastmarkets PCI Index.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.