Argus launches additional cfr South China thermal coal price assessment
Singapore, 6 January 2012
Global energy price reporting agency Argus has introduced a weekly cfr south China 6,000 kcal/kg NAR (net as received) within 60 days assessment in Argus Coal Daily International. The Argus Coal Daily International market report provides global coal price assessments, extensive commentary and market-moving news.
The new assessment is being launched in response to industry feedback that shows clear demand for a new price reference, owing to the substantial trading volume of 6,000 kcal/kg NAR coal from sources such as South Africa and Australia being delivered to southern China. The assessment is expected to be a key reference point for major industry participants including coal traders, risk managers and regulators.
China imported around 100mn tonnes of thermal coal in 2011 to generate electricity. Imports are likely to grow as the country’s economy continues to expand.
“We are pleased to introduce the new assessment. We have a team of professionals based in China, Singapore and Japan who are assessing this market on a daily basis. No other company brings the same level of resources to the Asian coal markets,” Argus Media chairman and chief executive Adrian Binks said.
Argus is a leading international provider of global coal price information including the Indonesian Coal Index (ICI) and, in association with IHS McCloskey, the API 2 (cif ARA), API 4 (fob Richards Bay) and API 6 (fob Newcastle) coal market benchmarks.
Information on Argus’ various coal reports is available at www.argusmedia.com/coal
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Argus Media is a leading provider of price assessments, business intelligence and market data on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels and Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.