Subscriber note: Platts to launch new assessment for calcined petroleum coke

Following a period of industry feedback, Platts intends to launch a new monthly price assessment for anode-grade calcined petroleum coke (CPC), suitable for aluminum smelters, effective May 31. The Platts Cal Pet Coke FOB US Gulf assessment will be assessed monthly on the last business day of the month, published that day in a narrow price range (high-low and midpoint), reflecting cargo values loading 30-60 days forward. For example, the assessment published on May 31 would reflect value for material loading in July. Platts intends to monitor the market continuously, publishing market information as appropriate, intensifying this activity toward the end of each month. The assessment will take into account firm bids and offers, or where spot transactions would take place for the benchmark grade. The Platts Cal Pet Coke FOB US Gulf assessment will reflect a typical grade exported from the US Gulf containing 2.6% sulfur, 300 ppm vanadium, 250 ppm nickel, 300 ppm iron, 250 ppm silicon, 150 ppm calcium, 120 ppm sodium and 0.50% ash, with a vibrated bulk density (VBD) of 0.85 g/cc, in sponge form excluding shot coke. The assessment will be based on input from suppliers (oil companies and merchant calciners), aluminum smelter buyers, traders and other active spot market participants. The price will be assessed in dollars per metric ton, for typical cargoes of 10,000-15,000 mt, loading FOB US Gulf ports from 30-60 days forward from date of publication. Deals that are for different chemistries or cargo sizes may be normalized to the stated standard. Spot price bids/offers or trades basis CFR Europe, CFR Canada, CFR Middle East or CFR Russia may be netted back to an FOB US Gulf port basis using reported spot freight rates for dry bulk carriers on the day of assessment. For netback comparisons, the appropriate Handymax or Handysize freight costs are taken into consideration. In the absence of spot deals, negotiations on current-quarter or half-year contracts may be taken into account for trend purposes. Deals or bids/offers must be deemed to be repeatable between typical counterparties. Further questions or feedback may be directed to Karen McBeth at +1-202-383-2110 or via email to karen_mcbeth@platts.com.