First Australia API-5 OTC Thermal Coal Swap Trades, Argus Says

Deal based on the Australian API 5 index and was brokered by Marex Spectron, involving Standard Bank as one of the counterparties, Argus said in an e-mailed statement today

* API 5 represents heating value of 5,500 kilocalories a kilogram, high ash coal * NOTE: API 5 started in May 2012 by Argus and IHS McCloskey

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