Coking coal swaps traded volume on the Singapore Exchange rose 265% on the month to 1.576 million mt in January, according to SGX data released Monday.
Open interest was up 11.26% on the month at 1.99 million mt in January. For options, the volume increased 168% on the month to 295,000 mt.
TSI's PHCC FOB index saw a decline of 17.5% on month, with the January index ended at $214.50/mt FOB Australia.
This was largely due to a steep correction in offer prices in mid-January when sellers were looking to liquidate February cargoes.
SGX coking coal swaps and options contracts are settled against TSI's Australia Premium Hard Coking Coal FOB index, a unit under S&P Global Platts.
