As per reports and information from our sources,Credit Suisse completed the first ever cleared coking coal swap transaction yesterday, in a development that should enable steel mills to hedge their exposure to their entire floating costs.The closing of the transaction early yesterday morning was the culmination of two-and-a-half years of work to identify appropriate reference indices and sufficient liquidity, Kristian Thunes, Credit Suisse's global head of freight and iron ore, told FinanceAsia.
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Credit Suisse completed the first ever cleared coking coal swap transaction yesterday.
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USA spot prices for low volatility coking coal gained USD 1.25 or 0.4% to USD 321.25 a ton in the week ended today