Country for PR: China
Contributor: Xinhua News Agency
Friday, June 22 2018 - 14:12
AsiaNet
Chinaprice-M Xinhua Coking Coal Price Index (Shanxi, China) released in Beijing
BEIJING, China, June 22, 2018 /Xinhua-AsiaNet/--

Chinaprice-M Xinhua Coking Coal Price Index (Shanxi, China), jointly compiled 
and published by the Price Monitoring Center of the National Development and 
Reform Commission (NDRC-PMC) and China Economic Information Service (CEIS), has 
recently been released in Beijing.

The index is designed to comprehensively and accurately reflect the coking coal 
price level and changes in China's production areas, provide a scientific price 
reference for domestic coking coal market transactions, and to promote the 
smooth and orderly operation of the industry.

The sample data is mainly derived from the contract data of the "Coking Coal 
Online" e-commerce platform of Shanxi Coke (International) Trading Center.

The index is based on the first week of January 2017 with the base point set at 
1,000. As of May 29 this year, the price index had reported 1,044, up 4.4 
percent from the base period.

The index will help the enterprises better grasp market trends, adapt to market 
changes, and rationally arrange production. Meanwhile, it will help the 
government departments better understand market conditions, monitor market 
behavior, strengthen price monitoring of coking coal market, and improve 
relevant national price monitoring system, said Lu Yanchun, head of the 
NDRC-PMC.

Su Huizhi, vice president of CEIS, pointed out that Shanxi is a large coking 
caol production base in China, with proven reserves accounting for more than 50 
percent of national total.

From the perspective of development trends, operating conditions, and responses 
of the enterprises, the index pricing model is more in line with market rules 
and enterprises' needs for fair marketing, said Yang Xianfeng, president of 
China Coal Transportation and Distribution Association.

The release of the index is expected to change the chaotic coking coal pricing 
in China, help promote reasonable fluctuations of the coking coal prices, and 
to strengthen China's initiative and discourse power in the international 
coking coal pricing market, said chairman of Shanxi Coking Coal Group.

CEIS, a wholly-owned company of Xinhua News Agency, boasts five national-level 
platforms including Xinhua Finance, Xinhua Silk Road, Xinhua Credit, Shanghai 
Petroleum and Natural Gas Exchange (SHPGX) and Xinhua Think Tank. As China's 
first professional institution studying, releasing, promoting and operating 
composite indices, Xinhua Indices have been committed to building four product 
systems: Xinhua Price Index, Xinhua Theme Index, Xinhua Evaluation Index and 
Xinhua Finance Index, and launched a series of influential products. 

Source: China Economic Information Service (CEIS)

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