Platts extends FOB Korea benzene derivatives assessments to 6 months forward starting Jan 3

S&P Global Platts extends the assessment of the FOB Korea benzene derivatives to six months forward, effective Jan. 3, 2022, to provide further transparency on the forward curve.

The additional assessments reflect the daily values of these derivative contracts at 4.30 pm Singapore time for minimum 1,000 mt lots, in line with the industry standard. The assessments roll on the first day of the month and are based on reported trades, bids, offers, indicative values and other pricing information, collected throughout the day.

The published prices are as following:

Description Symbol

Benzene FOB Korea Paper Mo04 AAVYVM4

Benzene FOB Korea Paper Mo05 AAVYV05

Benzene FOB Korea Paper Mo06 AAVYV06

Platts previously published assessments only for balance of the month (M0) and next three months forward (M1, M2, M3).

Platts initially proposed the new assessments on Oct. 19 in a subscriber note published here https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/101921-platts-proposes-to-extend-fob-korea-benzene-derivatives-assessments-to-six-months-forward.

Platts originally proposed these new assessments to start on Dec. 1. In view of the feedback received Platts postponed the launch of extended derivatives assessment to Jan. 3, 2022.

Platts publishes all relevant pricing information for these assessments in real time on the Platts petrochemical alert PCA0005.

Full details of the current Platts benzene derivatives methodology can be found here /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Asia_Pacific_Petrochemicals.pdf.

The assessments are published on Platts Petrochemical Alert page PCA0766, PCA770 and the Petrochemicals Service on Platts Market Center, in the Asian Petrochemical Scan, or APS, in the Platts database and on the Platts Dimensions Pro platform.

Please send feedback and questions to petchems@spglobal.comwith a copy to pricegroup@spglobal.com.

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