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Platts to rename metals derivatives assessments, to database Mo0 until month-end

S&P Global Platts has decided to rename metals derivatives assessments, which are currently referred to as “swaps”, effective January 2, 2020, in response to changes in market terminology and practice.

The underlying assessment methodology for these derivatives will remain unchanged.

Platts will also database the current month derivatives value until the end of the month, when they will converge with the month-to-date average of the underlying benchmarks.

Platts publishes daily assessments for monthly, quarterly and calendar year iron ore fines and lump, metallurgical coal, scrap and rebar derivatives.

These instruments are traded as a fixed price or in intermonth spreads and they settle off the average value of the underlying assessment price, as published on each day during the month/quarter/year of trade.

Assessments for current month, or Mo0, represent the value of derivatives trading for the full month, rather than balance of the month. For example, on September 14, 2019, the September derivative reflects the underlying benchmark prices, already published between September 1-14, and the expectations for the rest of the month.

The change will affect the following assessments and monthly averages:

Code
Current
Proposed
ACTAB00
HMS 1/2 80:20 CFR Turkey Swap Current Month
HMS 1/2 80:20 CFR Turkey Derivative Current Month (Mo0)
ACTAM01
HMS 1/2 80:20 CFR Turkey Swap Mo01
HMS 1/2 80:20 CFR Turkey Derivative Mo01
ACTAM02
HMS 1/2 80:20 CFR Turkey Swap Mo02
HMS 1/2 80:20 CFR Turkey Derivative Mo02
ACTAM03
HMS 1/2 80:20 CFR Turkey Swap Mo03
HMS 1/2 80:20 CFR Turkey Derivative Mo03
AAQUA00
Iron Ore Lump Premium ppr swaps BalMo $/dmtu
Iron Ore Lump Premium CFR China Derivative Current Month (Mo0) $/dmtu
AAQUA01
Iron Ore Lump Premium ppr swaps Mo01 $/dmtu
Iron Ore Lump Premium CFR China Derivative Mo01 $/dmtu
AAQUA02
Iron Ore Lump Premium ppr swaps Mo02 $/dmtu
Iron Ore Lump Premium CFR China Derivative Mo02 $/dmtu
AAQUA03
Iron Ore Lump Premium ppr swaps Mo03 $/dmtu
Iron Ore Lump Premium CFR China Derivative Mo03 $/dmtu
STRTB00
Steel Rebar FOB Turkey Swap Current Month $/mt
Steel Rebar FOB Turkey Derivative Current Month (Mo0)
STRTM01
Steel Rebar FOB Turkey Swap Mo01 $/mt
Steel Rebar FOB Turkey Derivative Mo01
STRTM02
Steel Rebar FOB Turkey Swap Mo02 $/mt
Steel Rebar FOB Turkey Derivative Mo02
STRTM03
Steel Rebar FOB Turkey Swap Mo03 $/mt
Steel Rebar FOB Turkey Derivative Mo03
TSIPM00
TSI Iron Ore 62% Fe Paper Swaps M0
TSI Iron Ore 62% Fe CFR China Derivative Current Month (Mo0)
TSIPM01
TSI Iron Ore 62% Fe Paper Swaps M1
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Mo01
TSIPM02
TSI Iron Ore 62% Fe Paper Swaps M2
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Mo02
TSIPM03
TSI Iron Ore 62% Fe Paper Swaps M3
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Mo03
TSIPQ01
TSI Iron Ore 62% Fe Paper Swaps Q1
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Qr01
TSIPQ02
TSI Iron Ore 62% Fe Paper Swaps Q2
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Qr02
TSIPQ03
TSI Iron Ore 62% Fe Paper Swaps Q3
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Qr03
TSIPY01
TSI Iron Ore 62% Fe Paper Swaps CY1
TSI Iron Ore 62% Fe CFR China Derivative $/dmt Yr01
MCPLM01
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo01
TSI Premium Hard Coking Coal FOB Australia Derivative Mo01
MCPLM13
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo01 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Mo01 MAvg
MCPLM02
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo02
TSI Premium Hard Coking Coal FOB Australia Derivative Mo02
MCPLM23
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo02 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Mo02 MAvg
MCPLM03
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo03
TSI Premium Hard Coking Coal FOB Australia Derivative Mo03
MCPLM33
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Mo03 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Mo03 MAvg
MCPLQ01
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr01
TSI Premium Hard Coking Coal FOB Australia Derivative Qr01
MCPLQ13
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr01 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Qr01 MAvg
MCPLQ02
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr02
TSI Premium Hard Coking Coal FOB Australia Derivative Qr02
MCPLQ23
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr02 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Qr02 MAvg
MCPLQ03
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr03
TSI Premium Hard Coking Coal FOB Australia Derivative Qr03
MCPLQ33
TSI Premium Hard Coking Coal FOB Australia swap $/Mt Qr03 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Qr03 MAvg
MCPLY01
TSI Premium Hard Coking Coal FOB Australia swaps $/mt Yr01
TSI Premium Hard Coking Coal FOB Australia Derivative Yr01
MCPLY13
TSI Premium Hard Coking Coal FOB Australia swaps $/mt Yr01 MAvg
TSI Premium Hard Coking Coal FOB Australia Derivative Yr01 MAvg
MCPLY02
TSI Premium Hard Coking Coal FOB Australia swaps $/mt Yr02
TSI Premium Hard Coking Coal FOB Australia Derivative Yr02

These assessments are published on Platts Metals Alert fixed pages 1113, 1120, 1315 and 1323, in the Steel Markets Daily publication and on the Platts Market Centre.

Please send any feedback, comments or questions to PL_Metals_Editorial@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 upon request.