Platts proposes to change FOB Australia metallurgical coal timing specifications to 15-60 days forward

Platts, part of S&P Global Commodity Insights, is proposing to change the timing specifications of its seaborne coking coal and PCI coal assessments basis FOB Australia to 15-60 days forward, effective Sept. 1, 2022.

The proposed change from the current 7-60 days follows initial market feedback that spot cargoes loading in seven days may be deemed too prompt for vessel nomination.

The proposed change aims to reflect adequate nomination time, and typical market practice. Under this proposal, spot cargoes with a loading window outside of 15-60 days forward would not be considered for the assessment process.

The following metallurgical coal assessments would be affected:

The assessments are published in SBB Steel Markets Daily, Coal Trader International, on the real-time Platts Steel & Raw Materials Alert on pages 205 and 1064, in Platts Dimensions Pro and in the Platts price database under the symbols mentioned above.

Platts invites feedback on this proposal by June 30, 2022 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.