SUBSCRIBER NOTE: Platts changes specification of Hard Coking Coal assessments

S&P Global Platts has changed on June 1, 2018, the specifications of Platts Hard Coking Coal FOB Australia (HCCAU00), CFR China (HCCCH00) and CFR India (HCCIN00) assessments.

Previous New

CSR (%) 64 62 VM (%) 25.5 21.5 Ash (%) 9 8 Total moisture (%) 9.5 10.5 Sulfur (%) 0.6 0.45 Phosphorous (%) 0.05 0.06 Maximum fluidity (ddpm) 1,700 100 Vitrinite (%) 55 52

Platts initially proposed a change in specifications in a subscriber note published on February 8, 2018, and then updated this proposal on March 2, following market feedback.

Based on analysis of historical data, Platts evaluates that the new specifications do not imply a structural difference in value from the previous ones.

Please submit any feedback, comments or questions to 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.