CME Group launches Argus Coking Coal Swap Futures

Wed,August18, 2011

Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Nymex floor and for clearing through CME Clearport from 29 August. The new contract will be settled against the fob Australia assessment in the Argus Coal Daily International market report.

The launch of the futures contract and clearing service comes amid strong growth in the coking coal spot market and follows a move away from annual pricing towards quarterly and even monthly contracts. Argus launched spot coking coal prices in May last year, with daily price assessments now covering the Chinese import and domestic markets, India, Australia, Japan and the US. Australia accounts for about two-thirds of world coking coal exports.

“We are pleased that CME Group has introduced this new instrument, which will help expand risk management and trading opportunities for coking coal in the Asia-Pacific region. We wish the exchange every success with their new contract,” Argus Media chairman and chief executive Adrian Binks said. For more details Argus media

Dalian Commodity Exchange to launch coke futures

Mar13,2011 |Xinhua

China's Dalian Commodity Exchange will launch coke futures trading this year to provide new hedging tools for the industry, Liu Xingqiang, general manager of the exchange, told reporters in Beijing on Mar 9.

The listing will help to promote a more regulated mechanism in the industry. Preparation work for the trading is underway, he said.

The coke industry plays an important role in China's booming economy, with annual output and consumption both above 300 million tonnes in recent years, according to Liu.

The plan comes as China pledges to advance the development in the futures and financial derivatives market in the five years to 2015.