Asian thermal coal swaps trade picks up steam

The China-based API8 index has provided a risk management solution to the coal contract defaults that befell the industry last year and is gaining traction as one of the latest Asia-based commodity derivatives


When China recently overtook the US as the world's largest oil importer, it was the latest milestone in the changing global commodity trade flows since the turn of the century that have made Asia the world's demand focal point.

It's not just oil. China's appetite for iron ore and subsequent market dominance – accounting for around 60% of global imports – led to the well-documented development of the iron ore spot market in 2009. Elsewhere, demand for seaborne LNG has been building beyond the

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