PRICING NOTICE: Proposal to reduce frequency of low-vol PCI indices

Fastmarkets is proposing to reduce the frequency of its two low-volatility pulverized coal injection (PCI) indices to a weekly basis from a daily basis.

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.

What to read next
The growth in Chinese shipments of batteries for energy storage systems (ESS) is far outstripping the growth in deliveries of batteries for electric vehicles (EVs), sources told Fastmarkets in the week to Friday November 1.
After a consultation period, Fastmarkets has discontinued the price due to a lack of liquidity and production of the commodity. All short-term forecasts associated with this price produced by the Fastmarkets research team, if any, have also been discontinued. If you have any comments on the discontinuation of this price, please contact Zihao Li by email […]
Steel leaders from throughout Latin America gathered during October 29-31 in Buenos Aires, Argentina, at Alacero Summit 2024 to learn more about the region's growing importance in the global steel market
After a 30-day consultation period, Fastmarkets has amended the price assessment for FP-CBB-0028 coated ivory board (commodity), 250 g, delivered East China, CNY/tonne, with effect from November 1 2024.
The adoption of decarbonization technologies and greener practices in Asia will be pivotal to the global steel industry achieving is emissions reductions targets, according to Christopher Lilholm, head of global key account at Norwegian risk management business DNV.
Leading Chinese steelmakers will raise prices for their products by up to 600 yuan ($85) per tonne for domestic sales in November, following a significant rally in Shanghai steel futures prices and an increase in demand, sources told Fastmarkets on Thursday October 10.