The API 2 price assessment is the benchmark price reference for coal imported to northwest Europe. It is calculated as an average of the Argus cif ARA price assessment and the IHS McCloskey NW Europe Steam Coal marker.
The Argus component of the price assessment is published in Argus Coal Daily International. The Argus/McCloskey’s Coal Price Index report is published every Friday and includes daily, weekly and monthly average prices. Daily price assessments are also available as a data feed.
The API 2 price assessment is the primary price reference for physical and over-the-counter coal contracts in northwest Europe. Some 90pc of the world’s coal derivatives are priced against the Argus/IHS McCloskey API 2 and API 4 price assessments.
World coal markets use the API 2 price assessment for supply agreements, risk management, hedging, analysis and more. The API 2 price assessment is the world’s most referenced price of coal and forms the settlement basis for the world’s most liquid and successful coal futures and options.