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Platts proposes discontinuing FOB Newcastle 6,300 kcal/kg GAR physical and FOB Newcastle 6,000 kcal/kg NAR financial forward curves

Based on a review of historic liquidity, a lack of verifiable data and shifting trade flows, S&P Global Platts proposes to discontinue its price assessments for FOB Newcastle 6,300 kcal/kg GAR physical grades along with associated financial forward curves with effect from December, 2019.

Platts understands that the FOB Newcastle 6,300 kcal/kg GAR physical market has seen a decline in spot liquidity as well as in participation. Platts does not believe that information in this market now represents sufficient quality and quantity to inform a robust assessment.

Platts has determined that the majority of thermal coal exported from Australia is in the 5,300-5,700 kcal/kg NAR range, with ash ranging from 20%-23%. This trade flow is reflected by the existing FOB Newcastle 20% Ash, 5,500 NAR (AAVUW00) and FOB Newcastle 23% Ash 5,500 NAR (AAVVB00) assessments. The bulk of the higher CV thermal coal shipped from Australia is reflected in the existing Platts NEAT 5,750 kcal/kg NAR daily assessment (JKTCA00) reflecting the value thermal coal shipped into the port of Kinurra, Japan.

The physical assessments proposed for discontinuation are published under the following codes:

FOB Newcastle 6,300 kcal/kg GAR 7-45 day $/mt – CSNCB00

FOB Newcastle 6,300 kcal/kg GAR 7-45 day EUR/mt – CSNCC00

FOB Newcastle 6,300 kcal/kg GAR 7-45 day $/mt Monthly Average – CSNCB03

FOB Newcastle 6,300 kcal/kg GAR 7-45 day $/mt Quarterly Average – CSNCB05

These codes are also published on Global Coal Alert pages 0425 and 0410, EP 0910 and 0912, in Coal Trader International, Power Weekly, Coal Asia Monthly, and in Market Data Category CI.

The financial assessments are published under the following codes:

Thermal Coal Forward Curve Newcastle Australia Prompt Month CSCM001

Thermal Coal Forward Curve Newcastle Australia Prompt Month +1 CSCM002

Thermal Coal Forward Curve Newcastle Australia Prompt Quarter CSCQ001

Thermal Coal Forward Curve Newcastle Australia Prompt Quarter +1 CSCQ002

Thermal Coal Forward Curve Newcastle Australia Prompt Quarter +2 CSCQ003

Thermal Coal Forward Curve Newcastle Australia Prompt Quarter +3 CSCQ004

Thermal Coal Forward Curve Newcastle Australia Prompt Calendar Year CSCY001

Thermal Coal Forward Curve Newcastle Australia Prompt Calendar Year +1 CSCY002

Thermal Coal Forward Curve Newcastle Australia Prompt Calendar Year +2 CSCY003

These codes are published on European Power pages 903 and Global Coal Alert page 440, in Coal Trader International and in Market Data Category DC.

Platts invites feedback on the proposed discontinuation by September 20 to coal@spglobal.com and pricegroup@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 to the public upon request.