Platts proposes new daily met coal prices; penalty/premia changes

Platts intends to publish starting October 1, 2011, daily seaborne spot price assessments for Semi-Soft Coking Coal (SSCC), Low-Vol Pulverized Coal Injection (LV PCI), Low-Vol 12% ash PCI (LV 12 Ash PCI), and for blast furnace Metallurgical Coke (Met Coke), in addition to its current Metallurgical Coal assessments. Platts invites feedback from market participants on the proposed new prices.

Platts intends to normalize SSCC to standard benchmark specifications of 34% volatile matter (air-dried), 9.25% ash (air-dried), 0.58% sulfur (air-dried), 0.025% phosphorus (air-dried), 53% fixed carbon, 9.5% total moisture (as received) and crucible swell number 5.5.

Low-Vol PCI will be normalized to 13% VM, 8.5% ash, 0.55% sulfur, 7,800 kcal/kg calorific value, 78 Hardgrove Grindability Index, and total carbon 90.5% (ultimate analysis). Low-Vol 12% Ash PCI will be normalized to 13% VM, 12% ash specifications.

SSCC, LV PCI and LV 12% Ash PCI will be assessed FOB Australia, CFR China and CFR India. Met Coke will normalized to 62% coke strength after reaction, 12.5% ash, Micum 40 of 82% minimum, Micum 10 of 8% maximum, 30-80 mm size, 25-26% Coke Reactivity Index and 5% total moisture. Met Coke will be assessed CFR East India.

Platts intends to publish the assessments in Steel Markets Daily, Coal Trader International, International Coal Report, Platts Metals Alert and European Power Alert.

Please address any comments or questions by September 15, 2011, to: Francis Browne, francis_browne@platts.com, tel +44 20 7176 6239, Julien Hall, julien_hall@platts.com, tel +65 6530 6538, with a copy to coal@platts.com and pricegroup@platts.com PLATTS PROPOSES CHANGES TO HARD COKING COAL PENALTIES/PREMIA

Also effective October 1, Platts intends to amend the way Hard Coking Coal Penalties and Premia are calculated, and to add new values. Platts invites feedback from market participants on the proposed amendments.

Platts will publish HCC Penalties and Premia as a percentage of Premium Low Vol FOB Australia and as an absolute value for coke strength after reaction (CSR) and volatile matter (VM), total moisture, ash and sulfur.

The existing Penalties and Premia, which are calculated as a percentage of HCC 64% CSR Mid Vol, will continue to be compiled and data-based. Values for CSR and VM will be added to the existing ones.

Platts intends to publish the assessments in Steel Markets Daily, Coal Trader International, International Coal Report, Platts Metals Alert and European Power Alert.

Please address any comments or questions by September 15, 2011, to: Francis Browne, francis_browne@platts.com, tel +44 20 7176 6239, or Julien Hall, julien_hall@platts.com, tel +65 6530 6538, with a copy to coal@platts.com and pricegroup@platts.com.