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The new reference prices for Premium Hard Coking Coal on a cfr Jingtang, China and fob DBCT, Australia basis and Hard Coking Coal on a cfr Jingtang, China and fob DBCT, Australia basis are daily reference prices for the coking coal spot market.
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On Friday November 1, the indices closed at:
- Premium Hard Coking Coal cfr Jingtang: $158.30 per tonne
- Hard Coking Coal cfr Jingtang: $144.39 per tonne
- Premium Hard Coking Coal fob DBCT: $144.58 per tonne
- Hard Coking Coal fob DBCT: $131.04 per tonne
Chinese demand continues to drive growth in the seaborne coking coal market, with volumes expected to grow by about 13% in 2013. Miners are selling an ever-increasing proportion of their coking coal tonnages onto the spot market in response to price volatility.
Each Steel First coking coal index is a tonnage-weighted calculation of actual transactions that have been normalised to a base specification using the value-in-use for different materials.
The prices are normalised to the base specifications using an in-house developed model based on the value-in-use applied by the market to different brands and grades of coking coals.
The indices use transaction data from a broad spectrum of industry participants and widespread contact base of coking coal producers, traders and steelmakers.
For details of the methodology and specifications of the coking coal indices, please visit: http://www.steelfirst.com/Methodology.html.
For questions, please contact the editor Vera Blei at vblei@steelfirst.com.