Platts includes Jiangyin in CFR Taiwan/China paraxylene MOC assessment process

S&P Global Platts has included Jiangyin port as a delivery location for the CFR Taiwan/China paraxylene Market on Close assessment process from January 2.

Platts first proposed the inclusion of Jiangyin port through a subscriber note dated September 4, 2019: http://plts.co/8gRa30pCdC2

Jiangyin has seen an increase in PX deliveries over the last few years, with the number of spot purchases by buyers increasing due to growing purified terephthalic acid production.

Platts will include Jiangyin as a delivery location, adding it to the basket of ports currently reflected in the CFR Taiwan/China MOC process, namely: standard Taiwan ports, Ningbo and Dalian.

Platts would like to remind market participants that sellers in the MOC process are responsible for providing a ship that is able to physically berth at the nominated terminal, while the buyer remains responsible for nominating a terminal that can receive ships above 10,000 dwt. This change in methodology follows market feedback and the fact that deliveries of paraxylene to the Jiangyin port have grown significantly, given unrestricted access to any terminal in Jiangyin.

Please direct any questions or comments to petchems@spglobal.com, with a copy to pricemethodology@spglobal.com

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