Platts to change volume specification of some of its seaborne metallurgical coal assessments

Platts, part of S&P Global Commodity Insights, will update the volume specification for its FOB Australia, CFR India, CFR NWE seaborne metallurgical coal assessments and calculations, and its CFR China Premium Low Vol Hard Coking Coal assessments to minimum 30,000 mt from minimum 10,000 mt, effective April 3, 2023.

Platts first proposed the changes on Jan. 6 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/010623-platts-proposes-change-to-volume-specification-of-apac-europe-seaborne-metallurgical-coal-assessments

Following market feedback, Platts has narrowed the scope of assessments and calculations in scope and has moved the effective date from the originally proposed Feb. 24, 2023.

Upon this change, Platts may normalize price information for cargoes equal or greater than 30,000 mt to that of a standard Panamax volume (70,000-85,000 mt) using prevailing differentials.

The revised volume specification, which aims to better reflect the typical cargo size of spot transactions observed by Platts over the past 24 months, will apply to the following assessments and calculations:

Assessment Code

HCC Peak Downs FOB Australia HCCGA00

Premium Low Vol HCC FOB Australia PLVHA00

TSI Premium Hard Coking Coal Australia Export FOB East Coast Port TS01034

Low Vol HCC FOB Australia HCCAU00

TSI Hard Coking Coal Australia Export FOB East Coast Port TS01035

HCC Peak Downs FOB Australia (China Netback) HCCGD00

Prem Low Vol HCC FOB Australia (China Netback) PLVHD00

Hard Coking Coal Peak Downs CFR China HCCGC00

TSI Prem JM25 Coking Coal China Imports CFR Jingtang Port TS01044

Premium Low Vol HCC CFR China PLVHC00

HCC Peak Downs CFR India HCCGI00

Premium Low Vol HCC CFR India PLVHI00

Low Vol HCC CFR India HCCIN00

Premium Low Vol HCC CFR NWE PLVHE00

CSR per 1% as % PLV FOB Australia CPCSA00

CSR per 1% PLV $/Mt CPCSP00

Sulfur per 0.1% PLV $/Mt FOB Australia CPSPA00

Sulfur per 0.1% PLV $/Mt CPSPV00

VM per 1% as % PLV FOB Australia CPVPA00

VM per 1% PLV $/Mt CPVMP00

TM per 1% as % PLV FOB Australia CPTPA00

TM per 1% PLV $/Mt CPTMP00

Ash per 1% as % PLV FOB Australia CPAPA00

Ash per 1% PLV $/Mt CPPAP00

Low Vol PCI FOB Australia MCLVA00

Mid Vol PCI FOB Australia MCLAA00

Low Vol PCI CFR India MCLVI00

Mid Vol PCI CFR India MCVAI00

Goonyella C MCBAI00

Goonyella MCBAE00

GLV MCBAF00

Illawarra MCBAH00

Moranbah North MCBAG00

Oaky North MCBAR00

Peak Downs MCBAA00

Peak Downs North MCBAJ00

Riverside MCRVR00

Saraji MCBAB00

Goonyella C HCGNA00

Goonyella HCGOA00

GLV HCHCA00

Illawarra HCIWA00

Moranbah North HCMOA00

Oaky North HCOKA00

Peak Downs HCPDA00

Peak Downs North HCPNA00

Riverside HCRVA00

Saraji HCSAA00

Semi Soft FOB Australia MCSSA00

Semi Soft CFR India MCSSI00

In a revision from the original proposal, minimum volume specifications will remain unchanged for the following CFR China assessments:

Low Vol HCC CFR China HCCCH00

TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port TS01045

Low Vol PCI CFR China MCLVC00

Mid Vol PCI CFR China MCLAC00

Semi Soft CFR China MCSSC00

Carborough Downs MCBAO00

Lake Vermont MCBAN00

Middlemount Coking MCBAP00

Poitrel Semi Hard MCBAQ00

The assessments and calculations are published in SBB Steel Markets Daily, Coal Trader International, on the real-time Platts Steel & Raw Materials Alert on pages 205 and 1064, in Platts Dimensions Pro and in the Platts price database under the symbols mentioned above. Volume specifications for Platts US coking coal FOB US East Coast spot price assessments also remain unchanged as outlined in the original proposal. The assessments reflect Panamax loadings, with 30,000-70,000 mt sold as typical, and consider clips from 10,000 mt and higher.

Please send feedback to PL_CokingCoal@spglobal.com and pricegroup@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.