Global energy and commodities information provider Platts and Shanxi Fenwei Energy Consulting have partnered to produce a new metallurgical coal price series for the Chinese domestic market.
The companies have expanded their independent, editorially assessed China Coal Index (CCI) series by introducing five new, daily metallurgical coal assessments known as China Coal Index, Metallurgical (CCI Met).
The assessments include CCI Met Shanxi Premium Low Vol, CCI Met Shanxi High Sulfur Premium Low Vol, CCI Met North China Fat Coal, CCI Met Shanxi PCI and CCI Met Shandong Semi Soft.
Platts commercial director of global coal Patrick Bradley said: "Trading in and around the Chinese market has increased in sophistication.
"As China continues to act as a major clearing market for seaborne met coal, reliable metrics for domestic and international arbitrage will become ever more critical."
To be accompanied by market commentaries on factors influencing daily price movements as well as market sentiment, the new assessments will continue to leverage the combination of Fenwei and Platts.
Fenwei is said to have a reach in the domestic market, while Platts has price assessment expertise in the metallurgical coal field.
According to Platts, the latest price assessments reflect the transactable value of metallurgical coal that is expressed in Chinese Yuan, per metric tonne.
Metallurgical coal and steel raw materials in Asia senior managing editor Julien Hall said: "Based on Platts' robust price assessment methodologies, the new CCI Met assessment will bring greater transparency and insights into the domestic coking coal market.
"Chinese metallurgical coal buyers and sellers who actively engage in our price discovery process can help create useful new references in a historically complex and opaque market."
Image: Platts has price assessment expertise in the metallurgical coal field. Photo: courtesy of SOMMAI/ FreeDigitalPhotos.net.