Platts changes FOB Australia metallurgical coal timing specifications to 15-60 days forward

Platts, part of S&P Global Commodity Insights, has changed the timing specifications of its seaborne coking coal and PCI coal assessments basis FOB Australia to 15-60 days forward, effective Sept. 1, 2022.

The change from the previous 7-60 days follows market feedback that spot cargos loading in 7 days may be deemed too prompt for vessel nomination, and aims to reflect adequate nomination time and typical market practice. Under this change, spot cargos with a loading window outside of 15-60 days forward will not be considered for the assessment process.

The specification change was first proposed May 26, 2022, in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/052622-platts-proposes-to-change-fob-australia-metallurgical-coal-timing-specifications-to-15-60-days-forward

The decision to implement the proposal was published July 12, 2022, in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/071222-platts-to-change-fob-australia-metallurgical-coal-timing-specifications-to-15-60-days-forward

The following metallurgical coal assessments are affected:

The assessments are published in SBB Steel Markets Daily, Coal Trader International, on the real-time Platts Steel & Raw Materials Alert on pages 205 and 1064, in Platts Dimensions Pro and in the Platts price database under the symbols mentioned above.

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