Coal, Metals & Mining Theme, Metallurgical Coal, Ferrous
July 14, 2025
Platts to publish inter-month spread assessments for PLV FOB Australia coking coal
Platts, part of S&P Global Commodity Insights, will publish inter-month spread assessments for premium low-vol hard 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 inter-month spreads will complement the Platts Premium Low Vol Hard Coking Coal 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 will launch two inter-month spreads:
- The M0-M1 spread will reflect the price difference between the current assessment month (M0) and one month forward from the assessment month (M1).
- The M1-M2 spread will 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 inter-month spreads will be assessed based on pricing information gathered on a daily basis, including bids, offers, trades and market views on the inter-month spread value.
The spreads will reflect the following specifications:
| Assessment | Symbol | Type | Frequency | Quality | Quantity | Incoterms | Location | UOM |
| Physical Structure M0/M1 of Premium Low Vol HCC FOB Australia | PSPLV00 | 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 | PSPLH00 |
Platts first proposed to launch the intermonth spread assessments May 22, 2025: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/052225-platts-proposes-to-publish-intermonth-spread-assessments-for-plv-fob-australia-coking-coal
The spreads will be published in SBB Steel Markets Daily, Platts Steel Alert page 0205, and in the Platts price database.
Please send feedback, comments and questions 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.