While one trader said that current physical deals were aligned with paper values, another pointed out that the API2 index, against which coal swaps are settled, is derived from spot physical trades.

一个交易商指出，目前的现货交易和票据市场的价值保持一致，另一个则指出作为煤炭掉期交易的标准的API2指数是从现货实际交易中产生。

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On the spot market is one of the above average index as the iron ore on the monthly pricing.

即以上一个月现货市场的铁矿石指数平均价作为这个月的月度定价。

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This speck disrupts the otherwise uniform index of refraction creating a cloudy spot in a person's field of vision.

这种小颗粒会破坏水晶体原本均质的折射率，在视野中制造出模糊的点。

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Both strategies will not perfectly track the crude oil spot index regardless.

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