SUBSCRIBER NOTE: Platts merges, discontinues several TSI, Platts hard coking coal indices

S&P Global Platts has merged several TSI and Platts hard coking coal indices, as well as discontinued one TSI coking coal index from June 1, 2018.

This follows a period of feedback and a proposal note on this subject published February 8, 2018.

The subscriber note relates to the following price series: TSI Prem JM25 Coking Coal China Imports CFR Jingtang Port (TS01044) Platts Premium Low Vol CFR China (PLVHC00) TSI Mid-Vol JM25 Coking Coal China Imports CFR Jingtang Port (TS01048) TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port (TS01045) TSI Hard Coking Coal Australia Export FOB East Coast Port (TS01035) Platts Hard Coking Coal FOB Australia (HCCAU00) Platts Hard Coking Coal CFR China (HCCCH00)

Platts received feedback from many market participants across the supply chain supporting the merging of the majority of its suite of coking coal assessments, and for the TSI-related indices to follow the Market on Close assessment approach, rather than be calculated as a volume-weighted average.

The MOC assessment approach has proven particularly robust for markets whose liquidity can vary over time.

PREMIUM COAL In the premium coal segment, Platts has merged TSI Prem JM25 Coking Coal China Imports CFR Jingtang port (TS01048) with Platts Premium Low Vol CFR China (PLVHC00).

This means that the specifications, minimum quantity size, location and timing basis for TSI Prem JM25 Coking Coal CFR China mirrors that of Platts Premium Low Vol CFR China.

This also means that two price symbols will continue to be published, but they will be published as the same value.

TSI MID VOL CFR CHINA Platts has discontinued TSI Mid-Vol JM 25 Coking Coal China Imports CFR Jingtang Port (TS01048).

This has been done on the back of consistently supportive market feedback to retire this price series.

SECOND TIER HARD COKING COAL For the second-tier hard coking coal market, Platts has merged both TSI Hard Coking Coal Australia Export FOB East Coast Port (TS01035) and TSI Hard JM25 Coking Coal China Imports CFR Jingtang Port (TS01045) with Platts Hard Coking Coal FOB Australia (HCCAU00) and Platts Hard Coking Coal CFR China (HCCCH00), respectively.

This means that the specifications, minimum quantity size, location and timing basis for TSI Prem JM25 Coking Coal CFR China mirrors that of Platts Premium Low Vol CFR China.

This also means that two price symbols on an FOB and CFR basis will continue to be published, but they will be published as the same value, respectively.

The TSI indices will follow the MOC assessment approach. The MOC assessment approach has proven particularly robust for markets whose liquidity can vary over time.

Please consult a separate note proposing alterations to the specifications of the TSI and Platts second-tier hard coking coal price series.

Please submit any feedback, comments or questions to TSImetcoal@spglobal.com, 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.