The API 8 index is the assessment for 5,500 kcal/kg NAR coal delivered to south China. It is calculated as an average of the Argus 5,500 kcal/kg cfr south China price assessment and the IHS McCloskey/Xinhua Infolink south China marker.
The index was launched in May 2012 and has quickly gained the confidence of the coal trading community as a reliable, independent pricing tool for contracts.
The index is now being used for coal swaps cleared at major exchanges. The first swaps were traded against it in August 2012, only three months after the index’s introduction.
Other API Indexes