12 July 2023
Coal from Kuzbass Fuel Company entered the international exchange
The first exchange trading in thermal coal from Kuzbass Fuel Company has started at the St. Petersburg International Commodity Exchange (SPIMEX).
During trading sessions from May to June 2023, nine transactions were concluded. The total sales volume amounted to more than 26 thousand tons of high-quality long-flame coal mined at the Vinogradovsky open-pit mine of the Kuzbass Fuel Company. The heat of combustion of grade “D” coal is from 4,500 to 6,000 kcal/kg.
The agreements were concluded on the basis of Art. Meret, West Siberian railway (Kemerovo region). Delivery conditions are “pickup by rail” and “ex-car at the departure station.”
– Coal trading on the exchange opens up opportunities for creating an effective and reliable new sales channel. The exchange’s electronic platform with a convenient and understandable interface will accelerate the pace of digitalization of transactions, simplify document flow, and also guarantee transparency and security for all participants in the transaction. It is also planned to increase the volume of sales on the exchange platform to 40 thousand tons per month, – comments Sergei Rozhkov, head of sales on the domestic market of KTK JSC.
The project to develop exchange trading in thermal coal was carried out as part of the joint work of the specialized subcommittee of the Exchange Committee of the FAS Russia, the Ministry of Energy of Russia, the Bank of Russia, the NP Market Council, and coal market participants.
Also in February 2023, SPIMEX launched exchange trading in thermal coal based on a new system for recalculating the contract price based on the actual quality of the goods supplied.
