MCX offers imported thermal coal futures contract
India's Multi Commodity Exchange's (MCX) newly-launched thermal coal futures contract traded over 5500 metric tonnes on its first day of trade on Friday 7 August.
The Newcastle thermal coal contracts are currently on offer for August and September, but the exchange plans to offer more contracts in the future.
Lamon Rutten, managing director and chief executive officer of MCX, says the contract will allow participants to hedge risks arising from recent volatile coal prices. "The contract will be useful for participants from several industries such as power, cement, fertiliser, aluminium, paper, steel, chemical and textile for price risk management," he says
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