One of the world's leading brokers of freight and commodity swaps, London-based Freight Investor Services Ltd. (FIS) said that it has brokered its first coking coal swap trade in which the Credit Suisse bank was a counterparty. The transaction was for 9,000 mt of coking coal for the first quarter of 2012, priced at $245/mt, with clearing at the Chicago Mercantile Exchange (CME).
As SteelOrbis previously reported, CME Group cleared 60,000 metric tons of coking coal with a six month tenor, at the end of August