SUBSCRIBER NOTE: Platts proposes changes to several TSI & Platts hard coking coal indexes

S&P Global Platts proposes to merge daily Platts & TSI CFR China assessments for premium coking coal, to discontinue TSI's Hard Coking Coal FOB, CFR China, Mid Vol JM25 CFR China, and to change specifications for Platts HCC FOB Australia, from June 1, 2018.

The subscriber note relates to the following price series:

TSI Prem JM25 Coking Coal China Imports CFR Jingtang Port (TS01044) Platts Premium Low Vol CFR China (PLVHC00) TSI Mid-Vol JM25 Coking Coal China Imports CFR Jingtang Port (TS01048) TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port (TS01045) TSI Hard Coking Coal Australia Export FOB East Coast Port (TS01035) Platts Hard Coking Coal FOB Australia (HCCAU00) Platts Hard Coking Coal CFR China (HCCCH00) Platts Hard Coking Coal CFR India (HCCIN00)

Platts has received informal industry feedback indicating growing support for a simplification of its suite of coking coal assessments and indexes.

As a result, Platts is considering the following proposal:

In the premium coal segment, Platts is proposing to merge TSI Prem JM25 Coking Coal China Imports CFR Jingtang port (TS01048) with Platts Premium Low Vol CFR China (PLVHC00).

This would mean that the specifications, minimum quantity size, location and timing basis for TSI Prem JM 25 Coking Coal CFR China would mirror that of Platts Premium Low Vol CFR China.

The methodology reflected in the merged price series would be a market-on-close assessment process. This process has proven particularly robust for markets whose liquidity can vary over time.

Platts is also proposing to discontinue TSI Mid-Vol JM 25 Coking Coal China Imports CFR Jingtang Port (TS01048).

For the second-tier coking coal market, Platts is proposing to discontinue both TSI Hard Coking Coal Australia Export FOB East Coast Port (TS01035) and TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port (TS01045).

At the same time, Platts is proposing to change the specifications of Platts Hard Coking Coal FOB Australia, CFR China and CFR India assessments to:

Current Proposed CSR (%) 64 64 VM (%) 25.5 21.5 Ash (%) 9 7.5 Total moisture (%) 9.5 10.5 Sulfur (%) 0.6 0.48 Phosphorous (%) 0.05 0.05 Maximum fluidity (ddpm) 1,700 100 Vitrinite (%) 55 52

Platts invites comments, questions and other feedback on these proposals by February 28, 2018. Please submit any feedback, comments or questions to pricemethodology@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.