Coal trading platform globalCOAL said Wednesday steel producer ThyssenKrupp, along with trading group Xcoal Energy & Resources and Steel Mont Trading DWC-LLC had joined as members for metallurgical coal.
Xcoal is a major exporter of US coals, and has recently begun trading Australian coking coals.
TKS is procuring Australian coals and beefs up a steelmaking presence of the platform including Salzgitter, Tata Steel and Dillinger's Zentralkokerei Saar GmbH.
Some steelmakers who are members remain on the sidelines, saying the platform represents coals that are difficult to value and to identify qualities actually delivered.
A preference for spot and contract-based procurement through bilateral deals is still present.
The platform has offered metallurgical coal trading since October 13 and has seen transactions with some regularity, often involving miners such as BHP Billiton along with trading houses.
Met coal producers including BHP Billiton, Anglo American, Glencore, Peabody, Vale, Jellinbah, Wesfarmers and Teck Coal are members while the platform's only met coal products are Australian mid vols.
The platform has a premium mid volatile met coal FOB Australia branded and generic coals offered under specifications with use of globalCOAL's Standard Coal Trading Agreement.
