BEIJING, Oct. 21, 2013 /PRNewswire/ -- Platts, a leading global energy and commodities information provider, and Fenwei, China's largest and most respected coal market information provider, have formed a commercial partnership to produce the world's first Chinese-led, independent and editorially-assessed thermal coal prices for the Chinese market.
Through the partnership, the two companies have begun jointly publishing two new daily thermal coal assessments and daily market commentaries on factors influencing daily price movements and market sentiment.
"Together, Platts and Fenwei have worked closely over several months to develop a set of robust and transparent methodologies that incorporate the best techniques and capabilities of both companies," said James O'Connell, Platts editorial director of coal. "By leveraging our combined strengths, we've created a level of insight and transparency previously unavailable in China's spot market and this enhanced transparency will benefit market participants inside and outside China."
The new daily assessments are:
- China Coal Index (CCI) 1 – Domestic Chinese thermal coal of the net-as-received grade of 5,500 Kcal/Kg, free on board (FOB), from Qinhuangdao area ports
- China Coal Index (CCI) 8 – Thermal coal of the net-as-received grade of 5,500 kilocalories per kilogram (Kcal/Kg) as delivered into south China ports.