Coal, Metals & Mining Theme, Metallurgical Coal, Ferrous
May 22, 2025
Platts proposes to publish intermonth spread assessments for PLV FOB Australia coking coal
Platts, part of S&P Global Commodity Insights, is proposing to publish intermonth spread assessments for premium low-vol coking coal on an FOB Australia basis, effective Sept. 1, 2025, to cater to increased demand for transparency in the market structure of physical spot cargoes and in price differences arising from different loading times.
The proposed spreads would complement the Platts Premium Low Vol FOB Australia (PLVHA00) assessment, which reflects a baseline timing specification for a loading window 15-60 days forward. Market participants have noted a price difference in cargoes loading in different periods of the window, arising from changes in supply and demand conditions, seasonal factors in the prompt and forward periods, and from a comparison of structure in the financial derivative markets.
Platts is proposing to launch two intermonth spreads:
• The M0-M1 spread would reflect the price difference between the current assessment month (M0) and one month forward from the assessment month (M1).
• The M1-M2 spread would reflect the price difference between a month forward from the assessment month (M1) and two months forward from the assessment month (M2).
For example, on Sept. 1, the current assessment month (M0) would be September, M1 would be October and M2 would be November.
The proposed spreads would be assessed based on pricing information gathered on a daily basis, including bids, offers, trades and market views on the intermonth spread value.
The proposed spreads would reflect the following specifications:
| Assessment | Type | Frequency | Quality | Quantity | Incoterms | Location | UOM |
| Physical Structure M0/M1 of Premium Low Vol HCC FOB Australia | Assessment | Daily | 70% CSR, 20% VM, 10% TM, 10.5% ash, 0.65% sulfur, 0.04% phosphorus, 300 ddpm max fluidity, 67% vitrinite | Min 30,000 mt | FOB | Hay Point, Australia | $/mt |
| Physical Structure M1/M2 of Premium Low Vol HCC FOB Australia |
The spreads would be published in SBB Steel Markets Daily, Platts Steel Alert page STL1064, and in the Platts price database.
Platts invites feedback, comments and questions on this proposal to pl_cokingcoal@spglobal.com and pricegroup@spglobal.com by June 20.
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.