MOSCOW, February 12. /TASS/. Some 349,000 tons of coal were sold in the commodity’s debut year on the stock market, the press service of Russia’s Federal Antimonopoly Service (FAS) reported. First transactions were concluded on February 10, 2023.

"During the first year of stock trading in coal more than 340,000 tons were sold," the report said. "Moreover, coal grades that were not included in the joint decree and for which minimum volumes of exchange sales were not set, are sold on the SPIMEX (St. Petersburg International Mercantile Exchange). In particular, more than 100,000 tons of brown coal as well as other grades were sold last year, which confirms the demand for stock trading on the coal market," the FAS added.

The expansion of exchange trading in coal is stipulated by the National plan for developing competitiveness for 2021-2025. In November 2022, a joint decree by FAS and Russia’s Energy Minister was registered, which sets minimums on the sale of D and DG grades of steam coal for exchange trading. "Sale of this energy resource via exchange ensures digitalization of transactions and makes unfair pricing by coal companies impossible," the monopoly regulator noted.

FAS believes that the policies adopted will allow domestic indicators to be created on the market.

A number of coal companies have already approved and officially posted trade policies where they define stock trading as a priority channel for the sale of their products, according to the service. Moreover, they suggest supplies to the domestic market and the use of Russian indicators in coal price formation a priority.

The largest coal companies have been registered as trading participants, with both large producing and small trade firms among buyers, FAS said.