BEIJING, April 16,
2024 /PRNewswire/ -- The work of revising and
optimizing China Price-Xinhua Coking Coal Price Index, which was
jointly compiled by the Price Monitoring Center of the National
Development and Reform Commission and China Economic Information
Service (CEIS), has been successfully accomplished recently.
The optimization of the index is aimed at increasing the
scientificity, accuracy, and sensitivity of the index and providing
a more accurate price signal reference for the market, enterprises,
and government departments.
This optimization is based on the enrichment and improvement of
data sources, which are mainly derived from the contract data of
the "Coking Coal Online" e-commerce platform of Shanxi Coking Coal
& Coke International Trading Center.
As a national-level coking coal price index, the newly revised
index, on the one hand, can reflect medium- and long-term
contracts, promoting the stabilization of the coking coal
market.
On the other hand, the modified index can sensitively reflect
market rapid fluctuations, playing a price signal role for the
market.
During the trial run, the optimized index can effectively
reflect market information in a more timely and accurate manner, as
its fluctuations remained basically consistent with market price
trends, and the bidding index responded to market price changes
slightly earlier than its counterparts during certain periods.
The optimization mainly involves updating the index weight and
adjusting the sample composition, redesigning the bidding index to
make it more suitable for market needs, further enriching the index
product system as well as adjusting the release time on Friday
instead of Wednesday.
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