SUBSCRIBER NOTE: Platts to merge, discontinue several TSI & Platts hard coking coal indices

S&P Global Platts will merge several TSI and Platts hard coking coal indices, as well as discontinue one TSI coking coal index from June 1, 2018.

This follows a period of feedback and a proposal note on this subject published February 8, 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 received feedback from many market participants across the supply chain supporting the merging the majority of its suite of coking coal assessments and for the TSI-related indices to follow the Market-on-Close assessment approach, rather than be calculated as a volume-weighted average.

The MOC assessment approach has proven particularly robust for markets whose liquidity can vary over time.

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

This will mean that the specifications, minimum quantity size, location and timing basis for TSI Prem JM25 Coking Coal CFR China will mirror that of Platts Premium Low Vol CFR China. This will also mean that two price symbols will continue to be published, but they will be published as the same value.

TSI MID VOL CFR CHINA Platts will discontinue TSI Mid-Vol JM 25 Coking Coal China Imports CFR Jingtang Port (TS01048). This decision has been made on the back of consistently supportive market feedback to retire this price series.

SECOND TIER HARD COKING COAL

For the second-tier hard coking coal market, Platts will merge both TSI Hard Coking Coal Australia Export FOB East Coast Port (TS01035) and TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port (TS01045) with Platts Hard Coking Coal FOB Australia (HCCAU00) and Platts Hard Coking Coal CFR China (HCCCH00) respectively.

This will mean that the specifications, minimum quantity size, location and timing basis for TSI Hard Coking Coal Australia Export FOB East Coast Port (TS01035) and TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port (TS01045) will mirror that of Platts Hard Coking Coal FOB Australia (HCCAU00) and Platts Hard Coking Coal CFR China (HCCCH00) respectively.

This will also mean that two price symbols on a FOB and CFR basis will continue to be published, but they will be published as the same value respectively.

The TSI indices will follow the MOC assessment approach. The MOC assessment approach has proven particularly robust for markets whose liquidity can vary over time.

Please consult a separate note proposing alterations to the specifications of the Platts second-tier hard coking coal price series: https://www.platts.com/subscriber-notes-details/26902040. Please submit any feedback, comments or questions to pricemethodology@spglobal.com.

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