PRICING NOTICE: Steel First launches 4 daily benchmark coking coal indices

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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.

For all the very latest coking coal news click here.

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.