Coal, Metals & Mining Theme, Metallurgical Coal, Ferrous

August 21, 2023

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

Platts, part of S&P Global Commodity Insights, launched a new open origin daily assessment for CFR India Mid-Vol Pulverised 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.

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.

Platts will publish this assessment alongside the existing 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) as they will continue to remain in place.

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 published the decision to launch the new assessment on Aug. 16 at https://shorturl.at/gsSY3 , following a proposal published on Aug. 1 at https://shorturl.at/bmAR0 .

AMDVA00 and AMDVA03 are published in SBB Steel Markets Daily, Coal Trader International, Platts Market Data, Platts Dimensions Pro and on page 205 of Platts Steel Alert (STL).

Details on Platts Metallurgical Coal assessments can be found here: https://shorturl.at/ms027 .

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

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