SUBSCRIBER NOTE: Platts to change methodology of TSI Coking Coal indices

Following a formal market consultation, S&P Global Platts will make a number of methodology changes to The Steel Index Coking Coal indices, which will be implemented on November 1, 2017.

The market consultation began on July 14 with a subscriber note inviting feedback on a number of proposals.

In light of this feedback, Platts will adopt two changes to the TSI Coking Coal indices methodology.

1) Due to the potential for market-disruptive events in the FOB Australia market, which can lead to acute reduction in FOB data points, Platts is introducing a mechanism that will, for TSI's FOB Australia coking coal indices, employ indicative bids and offers on a FOB Australia basis in the index calculation should such an event occur. In such circumstances, Platts would publish a subscriber note advising market participants that such indications were to be included.

2) Loading window: in light of logistical practicalities and market standards observed in the FOB Australia coking coal market, TSI will change the loading window under evaluation to 7-60 days from the date of publication from the current standard of within 60 days of publication.

TSI will continue to receive submissions pursuant to the existing Data Provider agreements for companies submitting to TSI's Coking Coal indices. As a consequence, a comprehensive daily index rationale will not be published for its PHCC FOB Australia index.

Please submit any feedback, comments or questions to pricemethodology@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.