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Metallurgical Coal Trading
The met coal product – 'HCCA' – is a high quality, mid vol hard coking coal delivered FOB Australia.
This specification accommodates both a Branded and Unbranded market. Both markets need to meet the HCCA specification, but coal traded on a 'Branded' basis also needs to be of a qualifying brand, namely, Illawarra, Goonyella, Moranbah North, Oaky Creek or North Goonyella.
One spec, two physical markets
- Must meet the quality specification
- Must be one of the following brands, to be specified after the transaction in Seller's option: Illawarra, Goonyella, Moranbah North, Oaky Creek, North Goonyella
- Internationally recognised brands give comfort to the end-user
- Must meet the quality specification
- Branded, as well as other premium & widely used coals will feed into the unbranded cargos
- Blending controls ensure homogenity
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The HCCA Specification
When combined with SCoTA, globalCOAL's benchmark standard contract, the HCCA RSS (Relevant Standard Specification) defines both quality and delivery terms, so that you can focus negotiations on what matters most, price and volume.
|Basis / Typical||Min / Max|
|Total Moisture (AR)||10.0%||13.0% Max|
|Ash (AD)||9.5%||10.5% Max|
|Volatile Matter (AD)||23.0%||21.0% Min
|Total Sulphur (AD)||0.60%||0.80% Max|
|Calculated CSR||68.0||62.0 Min|
|Phosphorus in Coal (AD)||0.050%||0.090% Max|
|Max Dilatation (ISO 23873)||90%||60% Min|
|Vitrinite Type v10-v15||95%||90% Min|
|Lowest sub-lot Crucible Swelling Number (CSN)||–||5 Min|
|MBI (Modified Basicity Index)||–||2.50 Max|
|Mean Max Reflectance||1.20%||–|
|Max Fluidity||1000 ddpm||–|
The HCCA RSS contains full CSR details, as well as payment and shipping terms. View the full HCCA specification, which includes quality adjustments and rejection parameters.
What is the quality of the coal? What are the delivery terms?
All trades on the platform are underlied by SCoTA v8, globalCOAL's standard contract and a benchmark reference in the world of coal trading. In conjunction with an RSS (Relevant Standard Specification) specific to the product traded, SCoTA defines the quality and delivery terms and conditions so you can focus on negotiating what matters most: price and volume. Find out more about SCoTA.
What products can be bought and sold on the met coal screen?
Coals that meet the HCCA quality specifications laid out in globalCOAL's Relevant Standard Specifications (RSS) can be traded on the platform. This specification accommodates both a Branded and an Unbranded market. Both markets need to meet the HCCA specification, but coal traded on a 'Branded' basis also needs to be of a qualifying brand – namely, Illawarra, Goonyella, Moranbah North, Oaky Creek or North Goonyella.
If buying branded coal, when do I know which brand is being supplied?
The Seller must communicate which of the qualifying brands will be supplied no later than 20 days prior to the start of the Delivery Period.
How much can I buy?
The minimum quantity is 35kt with a +/-10% tolerance. We expect most transactions to be traded in panamax (75kt) or capesize (150kt) quantities.
Is the final price adjusted for quality?
Yes. The invoice price is based on final quality at loadport, as per normal market practice. Price adjustments are made on the basis of five parameters – Total Moisture, Ash, Volatile Matter, Total Sulphur and Calculated CSR.
How can I be assured of the quality of the coal I will receive?
Strict rejection limits and penalties laid out in the Relevant Standard Specification give buyers comfort on loaded quality. SCoTA contains clear contractual provisions for umpire analysis and rejection procedures.
How is the CSR calculated?
Predicted CSR will be calculated using a formula developed by ALS Global and globalCOAL. This formula has been developed from empirical coking data derived under standard testing conditions and regressed against corresponding coal specifications.
Can I conduct Additional Analysis on any met coal properties?
When using the HCCA RSS, the Buyer may request Additional Analysis in accordance with paragraph 3.6.9 of the RSS on the following elements or properties:
(effective end March 2017)
Have questions? Contact our sales team
T: +44 (0)20 7776 5900
Email London Team
T: +65 6311 4570