July 1 2013 Two new press releases this week: The Steel Index (TSI) is pleased to announce the launch today of two metallurgical coal price indices. Metallurgical coal is a key raw material input used along with iron ore in the production of steel around the world. The launch responds to increasing customer requests for TSI to expand its steel raw material coverage, following the success of its iron ore and scrap reference prices which are widely used by industrial companies in index-linked pricing arrangements and as the settlement basis for financial price risk management tools. “This launch is a key milestone for TSI. It enables us to provide the complete suite of prices for key raw material inputs used in the production of steel,” notes Tim Hard, TSI’s Director in Singapore. “The metallurgical coal supply chain is following in the footsteps of iron ore and currently evaluating the adoption of index-linked pricing arrangements. Miners, traders and buyers have been increasingly vocal in asking TSI to develop indices utilizing our respected, robust methodology. These indices are also likely to help unlock further appetite for steel price risk management tools, as their utilization grows in tandem with iron ore and scrap. [...]
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