Following an initial consultation with the market and a review of typical data sets collected over recent months, Fastmarkets now proposes to change the load port of its hard coking coal and PCI FOB DBCT assessments to FOB eastern Australian ports.
This adjustment will enable Fastmarkets to track a broader range of data by incorporating major ports including Hay Point Coal Terminal, Abbot Point Coal Terminal, Gladstone Port and Port Kembla, alongside Dalrymple Bay Coal Terminal.
To ensure the consistency of the assessments, normalization of ports may be practiced where necessary, based on market surveys.
The changes to specifications will be as follows, with the proposed amendment of load port in italics:
MB-COA-0004 Hard coking coal, fob eastern Australian ports, $/wmt
Quality: CSR base 62%, min 57%; volatile matter base 21.5%, range 18.5-27%; ash base 8%, max 11%; sulfur base 0.50%, max 1%; TM base 10.5%; CSN base 7, min 6; fluidity min 10 dial divisions per minute (ddpm); phosphorus base 0.06%, range 0.04-0.08%; mean max reflectance base 1.25%, range 1.00-1.50%. Physical size <50mm
Quantity: Min 10,000 tonnes
Timing: Seaborne, laycan 16-60 days
Location: fob eastern Australian ports
Unit: USD/wet metric tonne
Payment terms: Letters of Credit on sight
Publication: Daily at 6.30pm Singapore time
Notes: All origins
MB-COA-0008 PCI low-vol, fob eastern Australian ports, $/wmt
Quality: VM (ad) base 13%; ash (ad) base 9%; sulfur (ad) base 0.5%; phosphorus (ad) base 0.1%; TM (ar)base 10%
Quantity: Min 10,000 tonnes
Location: fob eastern Australian ports
Timing: Seaborne, laycan 16-60 days
Unit: USD/wet metric tonne
Payment Terms: Letters of Credit on sight
Publication: Friday at 6.30pm Singapore time
Notes: Origin Australia
These two price assessments are part of the Fastmarkets steel raw materials prices package.
The consultation period for the above proposal will start on February 11 and end on March 18, with the amended load ports, subject to feedback, taking effect from March 24.
All historical data relating to the assessments prior to the amendment will remain available in the pricing section of the Fastmarkets website.
To provide feedback on the price assessments amendment, or if you would like to provide price information by becoming a data submitter, please contact Paul Lim, Jessie Li and Bella Cheng by email at: pricing@fastmarkets.com. Please add the subject heading FAO: Jessie Li, re: FOB Australia HCC and PCI.
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.
