ArcelorMittal Peak Downs North Coking Coal tender on May 17 through Platts

ArcelorMittal Sourcing, the trading arm of ArcelorMittal, intends to issue on May 17 an open expression of selling interest for a cargo of Australian premium mid volatile matter coking coal, Peak Downs North.

The tender will be facilitated by Platts, part of S&P Global Commodity Insights, metallurgical coal Market on Close price assessment process, with firm bids for full cargo to be published as headlines on fixed page 0700 of the real-time Platts Steel and Raw Materials Alert, and communicated to Platts' market-wide list of coking coal contacts via email.

ArcelorMittal Sourcing intends to offer a 75,000 mt (plus/minus 10%) cargo of Peak Downs North for June 10-19 laycan. Load port will be Hay Point/DBCT at seller's option. Payment terms will be BL plus 10 days by TT. Other terms as per usual terms and conditions.

Platts will publish a first intraday value at 2 pm Singapore time, reflecting information available to Platts prior to that point to reflect the tradeable value at that time. A second intraday value will be published at 4:15 pm Singapore time to reflect the tradeable value at that time. This, together with other information received before 5:30 pm Singapore time, will be considered for the day's final assessment.

Platts will publish firm bids received from ArcelorMittal Sourcing's customers latest by 3:15 pm Singapore time (0715 GMT). Subsequently, only price changes can be made until 4 pm. Bids are to be communicated to Platts through existing communication channels.

Only fixed price bids that are for full quantity (75,000 mt plus/minus 10% shipping tolerance) will be considered. Platts will not publish bids for partial quantity, or bids that are index-linked or that combine index-linked and fixed-price components.

Companies must provide the following details when submitting their bids to Platts for publication:

Full Company (entity) Name:

Bid Price: $xxx/mt FOB Australia for Peak Downs North

Bids will be published as "Buyer 1", "Buyer 2", and so on. Any final awards will be made transparently, with the name of the successful buyer(s) to be confirmed and published.

Published bids may be updated at a maximum increment of US$2/mt and a minimum increment of US$1/mt per 5 minutes from 3:15 pm until 4 pm Singapore time (0800 GMT), after which no further changes will be published.

Bids may be submitted via email PL_CokingCoal@spglobal.com, or by instant messaging via Whatsapp, Wechat or other channels. Platts editorial team would be reachable at +65 9029 0631. Bids will be published in the following format: ARCELORMITTAL PEAK DOWNS NORTH TENDER: Buyer 1 bids $xxx/mt FOB Australia for Peak Downs North, laycan 10-19 June, 75kt on Panamax.

Final bids standing at 4 pm will have validity until 5:30 pm Singapore time (0930 GMT) on the day of tender.

For further details, contact PL_CokingCoal@spglobal.com and pricegroup@spglobal.com. For any enquiries related to ArcelorMittal Sourcing, contact Alessandro Poli alessandro.poli@arcelormittal.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 to the public upon request.

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Tender details:

Seller: ArcelorMittal Sourcing

Buyer: Best bidder, subject to ArcelorMittal Sourcing final approval

Quality: Peak Downs North

Laycan: 10-19 June 2022

Quantity: 75kt +/- 10% shipping tolerance

Load port: Hay Point / DBCT in Seller's option

Payment terms: BL plus 10 days by TT

Other terms as per usual terms and conditions

Award: Award will be decided and finalized by ArcelorMittal Sourcing. For queries on the tender, please contact alessandro.poli@arcelormittal.com in suitable time prior to the closing.