Platts proposes to launch 65/63 CSR metallurgical coke FOB Indonesia price assessment

Platts, part of S&P Global Commodity Insights, is proposing to launch a daily 65/63 CSR metallurgical coke spot price assessment on an FOB Indonesia basis, effective Jan. 2, 2025.

The proposed assessment will provide greater pricing transparency to a fast-growing spot market, which results from the addition of new and planned capacity in the country's Morowali region.

In the first eight months of 2024, Indonesia exported 2.89 million mt of metallurgical coke, surpassing its total exports of 2.52 million mt over 2020-2023, according to Global Trade Analytics Suite data by S&P Global Market Intelligence.

The proposed assessment will specify cargoes with a minimum volume of 20,000 mt, in reflection of the bulk of spot activity taking place on an FOB Indonesia basis.

The assessment will have the following specifications:

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process.

Market information received before the 5:30 pm Singapore (0930 GMT) timestamp will be considered for the assessment.

Platts may consider and normalize information reported surrounding cargoes differing in quality, volume, timing, basis location and payment terms to the specifications stated above using price differentials prevailing in the spot market.

A full description of Platts assessments methodology can be found here: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Platts-Assessments-Methodology-Guide.pdf.

Details of Platts metallurgical coal and coke assessments can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/metals/metallurgical-coal-methodology.

The new assessment will be in addition to Platts' existing suite of seaborne metallurgical coke assessments covering FOB China and CFR India.

The assessment, which will follow the Singapore holiday calendar, will be published in Platts SBB Steel Markets Daily, Platts Steel Alert on page 0205 and in the Platts price database.

Platts invites feedback, comments and questions on this proposal to pl_cokingcoal@spglobal.com and pricegroup@spglobal.com by Nov. 22.

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