Coal, Metals & Mining Theme, Metallurgical Coal, Ferrous

August 16, 2023

Platts to launch new open-origin CFR India Mid-Vol Pulverized Coal Injection daily assessment

Platts, part of S&P Global Commodity Insights, will launch a new open origin daily assessment for CFR India Mid-Vol Pulverized Coal Injection (PCI), effective Aug. 21, in response to increasing demand for spot import prices as the India market evolves amid changes in global trade flows.

Platts first proposed the new assessment on Aug. 1. The subscriber note can be found at: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/080123-platts-proposes-new-open-origin-cfr-india-mid-vol-pulverized-coal-injection-assessment

Feedback received from market participants confirmed the relevance of capturing PCI flows beyond the Australia exports reflected in the existing net forward assessment, after India's development into a major destination for various origins of spot metallurgical coal.

Currently, Platts publishes a CFR India Mid-Vol PCI daily price (Symbol: MCVAI00) calculated on a net forward basis to the benchmark FOB Australia Mid-Vol PCI daily spot assessment (Symbol: MCLAA00). MCVAI00 and its associated monthly average (Symbol: MCVAI03) will remain in place after the new assessment's launch.

The specifications for the new assessment are:

Assessment Name Mid-Vol PCI CFR India Open Origin
Symbol for daily assessment AMDVA00
Symbol for associated monthly average AMDVA03
Quality 19% Volatile Matter, 10% Ash, 0.5% Sulfur, 78 Hardgrove Grindability Index, 10% Total Moisture, 1 Crucible Swelling Number
Quantity Minimum 30,000 mt
Location Delivered East India, Paradip
Laycan Timing Delivered 20 to 65 days forward from publication date
Unit of Measure $/mt
Payment Term LC at Sight
Time Stamp Singapore Publishing Schedule, Market Close 5:30 pm Singapore time daily

Platts Metallurgical Coal assessments are published in SBB Steel Markets Daily, Coal Trader International, Coal EU Daily and Coal US Daily on the real-time Platts Steel and Raw Materials Alert, and in Platts Market Data.

Details on Platts Metallurgical Coal assessments can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/coal/metallurgical-coal-methodology

Please send questions and comments to PL_CokingCoal@spglobal.com and PriceGroup@spglobal.com.

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