Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Intercontinental Exchange (ICE), New YorkHeadline | futures | — | USD/MT | 1800–2400 | Jan 2025 | — |
| Santos, Brazil | physical_fob | — | USD/MT | 1750–2350 | Jan 2025 | — |
| Rotterdam, Netherlands | physical_cif | — | USD/MT | 2100–2600 | Jan 2025 | — |
Premium structure
Differentials between benchmarks reveal where physical fcoj trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Intercontinental Exchange (ICE), New York | — | |
| Santos, Brazil | — | |
| Rotterdam, Netherlands | — |
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