SUBSCRIBER NOTE: Platts changes methodology of TSI Coking Coal indices

Following a formal market consultation, S&P Global Platts has made a number of methodology changes to The Steel Index Coking Coal indices, which are 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 has adopted 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 TSI 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 will publish a subscriber note letting market participants know when such indications will be included.

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

TSI continues 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 cannot 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.