CTCTC goes from strength to strength
2017-12-13 09:36:20
A total of 12,458 dealers from across the country had registered at the center by the end of November since the day when the center was officially launched on Feb 23, 2012. Major domestic companies involved in electricity, steel, chemical engineering and building materials, as well as all the coal companies in Shanxi province and areas around the province, have registered in the center. The total coal trade volume handled at the center amounted to 7.95 billion tons, representing a total value of 4.19 trillion yuan ($632.9 billion).
In terms of trading services, the center has collaborated with Xinzhou and Linfen governments to build a subsidiary for coal trade in the two coal-rich cities; the center also partnered with some coal companies outside Shanxi province to establish more coal trading platforms such as a supply chain management company in Tangshan, Hebei province and an e-commerce company in Shenzhen. These efforts have expanded the coal trade network and the influence of the center. Besides, with the support of China National Coal Association, and China Coal Transportation and Distribution, the center has formed a coal market union in partnership with the Shaanxi and Inner Mongolia coal trading markets.
In terms of information services, the center has launched a series of information products such as weekly reports on the coal market, quarterly and annual analysis of the domestic coal market, and the “Blue Paper”; the center also publishes the coal trade price index which has gradually become a barometer in the domestic coal market; the center has also independently developed nationally advanced standards for premiums and discounts as a coal market indicator. Along with the price index, the standards for premiums and discounts have been used as a reference point in terms of signing contracts and dealing with disputes between suppliers and distributors.
In terms of logistics services, the center has signed an agreement to expand cooperation in logistics, e-commerce platforms and logistics base construction with the railway system. The center has established nine warehouses in major coal production, transit and consumption areas. It has also strived to develop the highway logistics platform.
In terms of financial services, the center has collaborated with 14 financial institutions offering efficient and convenient third-party settlement services. By the end of November 2017, the center had handled a settlement volume worth 460 billion yuan. It has also offered personalized supply chain financing services with support from financial institutions, helping companies broaden their financing channels while reducing costs.
The CTCTC is speeding up construction of a modern energy transaction market featuring diversified forms of business management based on spot trading. It is exploring off-site trading services while promoting services combining the spot and futures markets.
Besides, the CTCTC is now expanding the scope of commodities that can be traded and now also offers coke, coal bed gas, the coal chemical industry, natural gas, stainless steel, aluminum and magnesium.