SUBSCRIBER NOTE: Platts proposes to add freight netback based on PHCC CFR China assessment

Platts proposes to add a freight netback value based on its Premium Hard Coking Coal CFR China assessment, which would be back-calculated to an FOB Australia basis. The freight netback would start publishing on May 3, 2016. The freight netback value would be calculated by taking the Premium HCC CFR China assessment, less the Platts daily Panamax spot freight rate from Hay Point, Australia, to Qingdao, China. This new netback series would complement Platts existing assessments of international hard coking coal trade. The freight netback value would appear in Platts Steel Markets Daily publication. As China's imports of premium hard coking coal have waned in recent years, exports from Australia to other countries have increased. Nevertheless, China remains an important bellwether for international hard coking coal trade, making a freight netback value of high analytical and comparative value for bids, offers and transactions concluded on an FOB Australia basis. This would be published under the daily brand relativities table in Platts Steel Markets Daily. Please address any further feedback or questions to: Annalisa Jeffries (annalisa.jeffries@platts.com; Edwin Yeo (edwin.yeo@platts.com) with a cc to pricemethodology@platts.com, by March 24, 2016. 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.