Our Price Explained
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What Are Paraxylene CFR Taiwan/China Derivatives Assessments?
What Are Paraxylene CFR Taiwan/China Derivatives Assessments?
The daily PX derivatives assessments provide further transparency to market participants in the PX market, and to complement the existing PX physical assessment. Derivatives represent an underlying, market-assigned future value of the Platts physical assessments and are a particularly important component in fully analyzing the hedgeable value of physical cargoes trading on floating price basis.
The new PX derivatives assessments reflect transactions of a minimum of 1,000 mt. S&P Global Commodity Insights publishes derivatives assessments for six forward months from the month of publication, and the derivatives assessments roll over on the first business day of the calendar month.
Prices are assessed in $/mt.
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How Does Platts Assess Paraxylene CFR Taiwan/China Derivatives Assessments?
How Does Platts Assess Paraxylene CFR Taiwan/China Derivatives Assessments?
We reflect the daily PX derivatives value based on trades, bids, offers and indications of tradeable value reported to S&P Global Commodity Insights editors.
We use a Market on Close (MOC) assessment methodology which is a day-long process that ends at 4:30pm Singapore time—the timestamp for Platts Asia PX derivatives assessments.
The Platts Market on Close assessment process for paraxylene CFR Taiwan/China derivatives is a structured price assessment process that is designed to ensure the highest quality of market data for use by S&P Global reporters when assessing the tradable value of PX CFR Taiwan/China derivatives at 4:30 pm Singapore time.
In the derivatives MOC, S&P Global Commodity Insights publishes firm bids, firm offers and trades reported for publication transparently by market participants. The MOC ends at 4:30 pm Singapore time, but the process itself runs all day, with clear guidelines around the submission of bids and offers for publication, changes to price, and deal reporting.
Throughout the trading day, S&P Global editors survey participants in the PX market, seeking information on any bids, offers, trades conducted in the spot market, in addition to information that may impact derivative market fundamentals. S&P Global also gathers and publishes information received from market participants that report their own firm, named bids, offers and trades for publication.