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API 4 (Coal)

The API 4 index is the benchmark price reference for coal exported out of South Africa’s Richards Bay terminal and is used in physical and over-the-counter (OTC) contracts. This is calculated as an average of the Argus fob Richards Bay assessment and the IHS McCloskey FOB Richards Bay marker.

The Argus component of the price is published each day in Argus Coal Daily International. The Argus/McCloskey’s Coal Price Index service is published every Friday and includes daily, weekly and monthly average prices. Daily prices are also available as a data feed. More than 90% of the world’s coal derivative contracts are settled against the API 2 and API 4 prices

The Argus/McCloskey’s Coal Price Index service also includes the API 2  index,  which is the benchmark for northern European coal markets.

Key Features

The API 4 index (fob Richards Bay) is an average of the Argus fob Richards Bay assessment and the IHS McCloskey FOB Richards Bay marker. To understand how Argus calculates its input into the API 4 price, read the market-appropriate methodology.

The API 2, API 4 and API 6 indexes are published exclusively by the Argus/McCloskey’s Coal Price Index service.

Argus coal market-appropriate methodology

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