SUBSCRIBER NOTE: Platts proposes to change basis of coking coal swaps assessment

S&P Global Platts is proposing to change the basis of its coking coal swaps assessments to reflect the forward curve of The Steel Index's (TSI) FOB Australia PHCC rather than the forward curve of Platts Premium Low Vol FOB Australia assessment from July 2, 2018. S&P Global Platts is proposing to amend the methodology for the following coking coal swaps assessments:

Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Mo01 (MCPLM01); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Mo02 (MCPLM02); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Mo03 (MCPLM03); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Qr01 (MCPLQ01); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Qr02 (MCPLQ02); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Qr03 (MCPLQ03)

They would be renamed to be:

TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo01 (MCPLM01); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo02 (MCPLM02); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo03 (MCPLM03); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr01 (MCPLQ01); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr02 (MCPLQ02); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr03 (MCPLQ03)

They would be based on TSI Premium Hard Coking Coal Australia Export FOB East Coast Port (TS01034) from the current Platts Premium Low Vol FOB Australia (PLVHA00). This change would reflect the growth in liquidity and open interest on the TSI PHCC forward curve relative to that of Platts PLV. Platts invites comments, questions and other feedback on this proposal by May 25, 2018. Please submit any feedback, comments or questions to kevin.seo@spglobal.com, copying in pricegroup@spglobal.com.

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