25th February 2013
Metal Bulletin today announced the publication of two new reference prices for the global coking coal market. A low-volatile premium hard coking coal and a mid-volatile hard coking coal. Both Indices are basis $/tonne cfr Jingtang, China.
The new Indices utilise the established and globally regarded Metal Bulletin Index methodology, and address the requirement in the market for an independent and objective representation of the international coking coal spot market.
The Metal Bulletin Coking Coal Index (MBCCI) utilises transaction and price data from a broad spectrum of industry participants, including coal miners, traders, and steel mills. The Indices are a tonnage weighted calculation of actual transactions which have been normalised to the base specification using the value-in-use defined by the market.
Cameron Hunt, Director – MB Index, said. “The new Indices will bring transparency and objectivity to this critical market. Metal Bulletin’s unique market balancing mechanism ensures that the Index reflects the underlying market while minimising bias or influence.”
The coking coal Indices expand Metal Bulletin’s coverage of steel making raw material pricing and allows a full representation of the blast furnace burden cost.
About Metal Bulletin
Metal Bulletin is the established leader in metals and minerals reporting. It has been reporting on iron ore transactions since the first print issue of the magazine was published in May 1913. Metal Bulletin’s reporting was instrumental in the development of the original iron ore benchmark pricing system, and it was also the first publisher to track the Chinese iron ore spot market since its creation in 2004. Since its development and launch in 2008, the Metal Bulletin Iron Ore Index has impartially and objectively tracked the iron ore spot market, and facilitated the industry’s move towards transparent pricing and longer-term risk management.
Since 2008 the MB Index methodology has been successfully applied to a wide range of markets, including ferrous scrap, manganese ore, alumina and ferrochrome.
Metal Bulletin’s breadth of product offerings extends from online news and prices services, magazines, newsletters and online real time services, to directories and databases, books, research reports, and consultancy and the staging of events around the globe in the form of conferences and exhibitions.
Metal Bulletin Limited is a wholly-owned subsidiary of Euromoney Institutional Investor Plc, which is itself majority-owned by the Daily Mail & General Trust Plc (DMGT). Since 2010, Metal Bulletin has been working with Shanghai Steelhome, the leading independent data provider and iron ore research house in China, to consolidate its strength in data collection.
More information is available at www.mbironoreindex.com