Platts launches inter-month spread assessments for PLV FOB Australia coking coal

Platts, part of S&P Global Commodity Insights, has launched daily inter-month spread assessments for premium low vol hard coking coal on an FOB Australia basis, effective Sept. 1, 2025.

The new assessments 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 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.

The two inter-month spreads launched are:

• The M0-M1 spread reflects the price difference between the current assessment month (M0) and one month forward from the assessment month (M1).
• The M1-M2 spread reflects 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) is September, (M1) is October, and (M2) is November.

The inter-month spreads are 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 reflect the following specifications:

Platts first proposed to introduce intermonth spread assessments on May 22: 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.

Platts communicated the launch of the assessments on July 14: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/071425-platts-to-publish-inter-month-spread-assessments-for-plv-fob-australia-coking-coal.

The assessments, which follow the Singapore holiday calendar, are 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.

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