SINGAPORE, Nov. 5, 2013 /PRNewswire/ -- Commodities news and price reporting agency Argus has launched a steel feedstocks daily report written in Chinese to cater for a wider Chinese audience. The move is in response to growing interest in the Argus ICX™ price — the Argus assessment for 62pc Fe iron ore fines on a cfr basis Qingdao – and the Argus cfr China coking coal assessment, which is widely used as a reference in physical contracts.
China's iron ore imports are on track to reach a new record, exceeding last year's total of 744mn t. China's imports rose by 9pc in the first nine months of this year compared with the same period a year earlier, to 600mn t. Chinese market participants are interested in greater transparency around price reporting of the steelmaking commodity. Meanwhile, the launch of new physically settled contracts on Chinese commodity exchanges, such as the Dalian Commodity Exchange, demonstrates the wider interest around the iron ore market.
This new daily report is a translation of the Argus Steel Feedstocks English-language publication launched in May this year. The report has been carefully designed for market participants in the global iron ore and steel, as well as coking coal, industries and provides spot price assessments, market news and analysis.
"This is another significant step for Argus in the metals sector, after the launch of Argus Steel Feedstocks earlier this year. It demonstrates Argus' commitment to successful broadening access in China to our independent and transparent news, analysis and market commentary, as well as our price assessments," Argus Media chairman and chief executive Adrian Binks said.
For more information, visit http://www.argusmedia.com/Metals
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About Argus Media
Argus is an independent media organisation with more than 500 full time staff. It is headquartered in London and has offices in each of the world's principal commodity centres. Its main activities comprise publishing market reports containing price assessments, market commentary and news, and business intelligence reports that analyse market and industry trends.
More than half of Argus employees are commodity journalists who specialise in reporting news and price information relating to physical energy and related commodity markets. They operate according to a rigorous Editorial Code of Conduct and a compliance and ethics policy that align with best journalistic practice, including the avoidance of conflicts of interest.
Argus is a leading provider of data on prices and fundamentals, news, analysis, consultancy services and conferences for the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer, petrochemical, metals and transportation industries. Data provided by Argus are widely used for indexation of physical trade. Companies, governments and international agencies use Argus information for analysis and planning purposes.
Argus has 19 offices globally, including London, Houston, Washington, New York, Calgary, Rio de Janeiro, Singapore, Dubai, Beijing, Tokyo, Sydney, Moscow, Astana and other key centres of the commodity industries. Argus was founded in 1970 and is a privately held UK-registered company.
SOURCE Argus Media