Argus launches international coking coal report
Singapore/Houston/London, 3 September 2012
Global energy and commodity price reporting service Argus today launched a dedicated coking coal service. The new daily report, Argus Coking Coal International, covers Europe, Asia-Pacific and the Americas and offers prices for key export and consuming markets, and freight rates for the main trading routes.
Coking coal demand and international trade are growing rapidly, fuelled by industrial expansion in China and India in particular. A swaps market is beginning to emerge around the Australian export market, as coking coal producers, trading firms and steel manufacturers seek risk management tools.
Australia is a key exporter to steel mills in Asia-Pacific, Europe and South America. The main Asian demand centres are India, China and Japan. Argus assesses delivered prices to China, as well as covering the domestic market in dollars and yuan, because there can be key differences between prices at the ports and local levels even after accounting for freight costs.
The fob Hampton Roads assessments (for high and low-volatile matter) represent another key export centre, on the US east coast. Colombia is an increasingly important exporter for Latin America and Argus launches the world’s first published index for Colombian coking coal export prices with the report. The report assesses the price of mid-volatile coal at export terminals along the Caribbean coast.
”We are glad to add coking coal to our range of energy and fertilizer reports. We have worked closely with the industry to develop a service that can meet the growing need for benchmark and risk management services,” Argus Media chairman and chief executive Adrian Binks said.
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Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer, petrochemical and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning.
Argus is headquartered in London and has more than 400 staff in offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels, Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.