We have updated our methodology for the Fenwei CCI indices to reflect the adjustment of value-added tax rate from 16% to 13% by the Chinese government from April 1, 2019.
The Fenwei CCI Index Team will use the 13%-VAT to calculate the price of imported coal in Chinese RMB per tonne based on the Fenwei CCI index for imported coal in US dollars per tonne from April 1, 2019.
The Fenwei CCI Index Team collects non-imported coal price information on VAT-included basis and dismisses those exclusive of VAT. The team will closely follow the prices provided by market participants after the adjustment to VAT to calculate the CCI indices for non-imported coal.
The latest Fenwei CCI Methodology is downloadable at http://www.sxcoal.com/home/data/Fenwei%20CCI%20Methodology.pdf
Fenwei Energy Information Services Co., Ltd.