As a national-level coking coal price index, the newly revised index, on the one hand, can reflect medium- and long-term contracts, promoting the stabilization of the coking coal market.
On the other hand, the modified index can sensitively reflect market rapid fluctuations, playing a price signal role for the market.
During the trial run, the optimized index can effectively reflect market information in a more timely and accurate manner, as its fluctuations remained basically consistent with market price trends, and the bidding index responded to market price changes slightly earlier than its counterparts during certain periods.
It is learned that the optimization mainly involves updating the index weight and adjusting the sample composition, redesigning the bidding index to make it more suitable for market needs, further enriching the index product system as well as adjusting the release time on Friday instead of Wednesday.
(Edited by Yang Yifan with Xinhua Silk Road)
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