Platts to launch PCI, semi-soft and coke Oct 3 (revised)

Following industry consultation, Platts has decided to launch daily spot market price assessments for low-vol PCI coal (LV pulverized coal injection), low-vol high-ash PCI (LV 12 Ash PCI), semi-soft coking coal (SSCC) and metallurgical coke (Met Coke). The launch date for these new assessments is October 3, 2011. Platts will publish the assessments in Steel Markets Daily, Coal Trader International, International Coal Report, Platts Metals Alert and European Power Alert.

PCI and semi-soft assessments will be published FOB Australia, CFR China and CFR India, while met coke will be assessed CFR East India. Close of market data for assessments will be 18:30 Singapore time.

Low-Vol PCI will be normalized to 13% volatile matter (air-dried), 8.5% ash (air-dried), 0.55% sulfur (air-dried), 7,800 kcal/kg calorific value (gross as received), 78 Hardgrove Grindability Index, and total carbon of 90.5% (in the ultimate analysis). Low-Vol 12% Ash PCI will be normalized to 15% VM, 12% ash specifications.

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

Met Coke will be 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.

Seaborne cargo assessments will consider minimum parcel sizes of 10,000 mt for PCI and semi-soft, and 5,000 mt for met coke. Timing will be based on cargoes loading 7-45 days from date of publication. Please address any comments or questions to cokingcoal@platts.com.

Platts will also amend the way Hard Coking Coal Penalties & Premia are calculated, and to add new values, effective October 3.

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

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

Please address any comments or questions to: cokingcoal@platts.com.