Argus Launches Global Coking Coal Benchmarks

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May 12, 2010, 04:09 ET

LONDON, May 12 /PRNewswire/ -- International energy pricing agency Argus has launched the widest current range of global coking coal benchmarks in response to the market's recent move away from the traditional annual contract system.

Coking coal benchmarks for Chinese imports and domestic sales, India, Australia, Japan and the US are now available on a daily basis in Argus Coal Daily International. This series of coking coal benchmarks is the most extensive available to the international market and covers the key import and export regions.

The surge in Chinese and Indian imports of coking coal and the dramatic price volatility seen in recent years have changed the nature of the coking coal market, which has become increasingly globalised and sophisticated.

"With the demise of annual contract talks, the coking coal market is looking for reliable and transparent benchmarks," Argus chairman and chief executive Adrian Binks says. "Robust benchmarks will allow index-linked trade to develop and they are fundamental to the development of forward markets that allow participants to hedge their risk."

Argus' coking coal indices follow the same methodology as Argus' inputs into the API indices, which are the world's most widely used thermal coal benchmarks. The new coking coal assessments draw on Argus' experienced team of coal analysts around the world.

"Argus has provided the thermal coal market with reliable price indexes for almost a decade and we have seen our benchmarks become the industry standard. We hope that we can provide the same level of transparency and reliability to the coking coal market," Binks says.

About Argus Media

Argus is a leading provider of price assessments, business intelligence and market data on the global crude and products, natural gas, coal, electricity, emissions and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Learn more at www.argusmedia.com.

For further information contact Zhilin Yuan in Singapore at +65 6496 9966, Seana Lanigan in London at +44 20 7780 4200, Tammy Tiedt in Houston at +1 713 968 0000, or email [email protected].

SOURCE Argus Media