Platts to rename Mid Tier PCI to Mid Vol PCI and change specifications

Following a period of market feedback, S&P Global Platts will rename the Mid Tier PCI assessments to Mid Vol PCI, and change the specifications of the assessments, effective September 1, 2021.

The renaming of the assessments aims to better align the names of the assessments with the underlying specifications defined in Platts methodology. The changes in the specifications aim to better reflect the specifications of PCI coals that have been actively traded in the spot market in recent five years.

The new basis specifications of Mid Vol PCI are:

The renaming of assessment series will not affect the assessment methodology itself, or the qualities of coals whose pricing information are considered in those assessments. Based on analysis of historical data, Platts evaluates that the incoming specifications do not imply a substantial structural difference in value from the current ones.

Some of these assessments are globally-referenced benchmarks used in the spot market. This prolonged notice period is to provide sufficient time for market participants who are using these assessments to make any necessary adjustments in their contracts.

The change will affect the following assessments and all their averages:

The renamed assessments will continue to be published in SBB Steel Markets Daily, Coal Trader International, on the real-time Platts Metals Alert and Platts Steel, Raw Materials Alert on fixed pages 1051 and 205, and in the Platts price database under the symbol mentioned above.

Please send comments, questions and other 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.