Details

Short notes on Major International Coal Indices

Major International Coal Indices

Coal prices in global markets are tracked using standardized benchmarks called coal indices. These indices help in trading, contracts, price discovery, risk management, and market transparency in the international seaborne coal market.

API Indices (Argus/McCloskey Coal Price Index)

Published jointly by Argus Media & McCloskey.

These are the most widely traded coal indices globally.

Key API Benchmarks

API 2 – CIF ARA (Amsterdam–Rotterdam–Antwerp), Europe

→ Benchmark for European thermal coal imports.

API 4 – FOB Richards Bay, South Africa

→ Major index for South African export coal.

API 5 & API 6 – FOB Newcastle, Australia

→ High-ash and mid-CV Australian thermal coal.

API 8 / API 10 – China import coal benchmarks.

NEWC Index (Newcastle Index)

Based on FOB Newcastle, Australia.

Considered the most influential thermal coal benchmark in Asia-Pacific.

Used for financial swaps on ICE.

Global COAL Indices

Published by global COAL, creator of SCoTA (Standard Coal Trading Agreement).

gC NEWC – Similar to the Newcastle index but global COAL specific.

Used heavily for physical + financial coal trades.

Platts Coal Indices (S&P Global Platts)

Important for Asian and global markets.

Platts FOB Newcastle

Platts CFR South China

Platts Indonesian Coal Index series

Indonesian Coal Index (ICI)

Jointly published by Argus + Coalindo.

Widely used for low-to-mid CV thermal coal.

ICI Grades

ICI 1 – 6500 GAR

ICI 2 – 5800 GAR

ICI 3 – 5000 GAR

ICI 4 – 4200 GAR (Most traded)

ICI 5 – 3400 GAR