SUBSCRIBER NOTE: Platts to change basis of coking coal swaps assessment

Platts will change the basis of its coking coal swaps assessments to reflect the forward curve of The Steel Index's (TSI) FOB Australia PHCC rather than the forward curve of Platts Premium Low Vol FOB Australia assessment from July 2, 2018.

S&P Global Platts will amend the methodology for the following coking coal swaps assessments:

Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Mo01 (MCPLM01); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Mo02 (MCPLM02); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Mo03 (MCPLM03); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Qr01 (MCPLQ01); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Qr02 (MCPLQ02); Metallurgical coal Premium Low Vol FOB Australia swap $/Mt Qr03 (MCPLQ03)

They would be renamed to be:

TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo01 (MCPLM01); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo02 (MCPLM02); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo03 (MCPLM03); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr01 (MCPLQ01); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr02 (MCPLQ02); TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr03 (MCPLQ03)

They would be based on TSI Premium Hard Coking Coal Australia Export FOB East Coast Port (TS01034) from the current Platts Premium Low Vol FOB Australia (PLVHA00).

This change would reflect the growth in liquidity and open interest on the TSI PHCC forward curve relative to that of Platts PLV.

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