The Chicago Mercantile Exchange (CME) announced Tuesday that it will launch a coking coal swap futures contract next Monday, July 25. The contract will be based against Platts indexes and will be listed on the New York Mercantile Exchange (NYMEX) and will be cleared through CME ClearPort.
The unit for the coking coal contract will be 1,000 metric tons (mt) and will add to the CME's other steel-related contracts, including: ferrous scrap cost-and-freight Turkey swap, US Midwest HRC, iron ore swaps and steel billet FOB Black Sea saw futures.