globalCOAL expands its Metallurgical Coal offering with move into PCI
London and Singapore - 14th December 2021
globalCOAL announces today that it is introducing spot and forward markets for a new PCI product on its online coal trading platform, on 20th December 2021.
The new PCI product, “PCIA”, will complement the metallurgical suite of products and will be deliverable on a FOB Australia basis with options on volatile matter ranges – either 12%-16% or 16%-22%.
Following consultation with the market and working with the Product Advisory Group, the Relevant Standard Specification of the product offering has been aligned with market requirements, ensuring the specification will provide a useful tool addressing the needs of producers, traders and consumers active in the PCI market. The help of the members of the Product Advisory Group is invaluable to us in the design of this product, for which we are very grateful.
The complete version of the RSS is available to download from our website.
On moving into the PCI coal market, Head of Metallurgical Coal at globalCOAL, Philip Shawcross said, “After consulting with the market, we believe the PCI market would benefit from more price transparency and greater liquidity. A standardised and accessible trading platform is the best way to do this, resulting in objective and reliable pricing information available to market participants.”
Martin Abbott, CEO of globalCOAL said, “PCI is a natural fit for us and it will complement our existing FOB Australian thermal and the premium coking coal products.”
globalCOAL provides a venue for online trading of thermal and metallurgical coal. Its standard specifications and delivery terms and conditions (SCoTA®) enable quick and efficient transactions, whether online or offline. The reliable and objective data its trading platform generates has helped bring much needed transparency and price visibility in the seaborne thermal and metallurgical coal markets. For more information, please visit www.globalcoal.com.
Philip Shawcross, Head of Metallurgical Coal, London
Tel: +44 20 7776 5914
Alison Ellmann, Marketing and Communications, London
Tel: +44 20 7776 5905
Download Press Release (PDF)