SUBSCRIBER NOTE: Platts to launch new Platts MVS Steel Mill Economics China Spreads

Platts is to start publishing Platts MVS Steel Mill Economics China Mill Margins following a period of industry feedback.

Platts is publishing daily two industry-focused spreads using Platts MVS's industry models and research, incorporating Platts price assessments for steel, iron ore products, scrap, coking coal and PCI.

These will be launched as new assessments starting Tuesday, May 3, 2016.

Platts MVS Steel Mill Economics China Mill Margins track spreads between domestic prices of the following flat and long steel products against the cost of raw materials.

(SB01260) HRC Q235 5.5MM China Dom Prod Shanghai (SB01198) Rebar HRB400 18-25MM China Dom Prod Beijing

Platts MVS is a provider of analytics on the steel and steel raw materials markets.

Platts will review the methodology for the new Platts MVS assessments against industry developments on an ongoing basis.

The assessments use weightings that will be reviewed and adapted on an ongoing basis for reference ratios of iron ore products and metallurgical coals used, and their effect on coke and pig iron yields, as well as assumptions around mill operating cash costs.

Platts MVS will release all of the implied weightings, with the models available for review.

Platts will inform subscribers each time such weightings and ratios, as well as additional costs, are changed.

Platts will engage with subscribers at any such time a product price series is proposed to be added or discontinued from the model.

The Platts MVS Steel Mill Economics China Mill Margins assessments will be published in Steel Price Report.

The data will also be also available in Platts Markets Data.

The Platts MVS data is published alongside new spreads in the Global Steel Mill Economics series.

The link below has an attachment for all of the product symbols used in the spreads: http://www.platts.com/IM.Platts.Content/Downloads/Data/platts-mvs-china-steel -mill-margins-0416.xls. Short link http://plts.co/4ncFmI Please provide feedback or submit questions to: Hector Forster, at hector.forster@platts.com and Platts price group at pricemethodology@platts.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 on request.