The API 2 index is the benchmark price reference for coal imported into northwest Europe. It is calculated as an average of the Argus cif ARA assessment and the IHS McCloskey NW Europe Steam Coal marker.
The Argus component of the price is published each day in Argus Coal Daily International
The Argus/McCloskey’s Coal Price Index report is published every Friday and includes daily, weekly and monthly average prices. Daily prices are also available as a data feed.
The API 2 price is the primary price reference for physical and over-the-counter (OTC) coal contracts in northwest Europe. Some 90% of the world’s coal derivatives are priced against the Argus/ IHS McCloskey API 2 and API 4 indexes.
The Argus/McCloskey’s Coal Price Index service also includes the API 4 index, which is the benchmark for coal exported out of Richards Bay in South Africa.
The API 2 benchmark is an average of Argus cif ARA and IHS McCloskey NW European Steam Coal Marker price. To understand how Argus calculates its prices, read the market-appropriate methodology for Argus Coal Daily International.
The API 2, API 4 and API 6 indexes are published exclusively through the Argus/McCloskey's Coal Price Index service.
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Argus coal methodology
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