Chemicals, Aromatics, Solvents & Intermediates

January 10, 2025

Platts launches methodology changes for weekly FOB Korea solvent-MX assessments

Platts, part of S&P Global Commodity Insights, has revised the assessment period for its FOB Korea solvent-grade mixed xylene assessment, effective Jan. 10, 2025. This change aligns the solvent-MX FOB Korea assessment with the methodologies used in adjacent markets, such as isomer-grade mixed xylene and toluene.

Platts now publishes weekly assessments for FOB Korea solvent-MX cargoes loading in the second, third, fourth, and fifth half-month laycans, consistent with daily FOB Korea aromatics markets. However, Platts does not assess the prompt first half-month laycan.

All half-month laycans roll forward on the first and sixteenth days of each calendar month. For instance, on Jan. 1, the assessed half-month laycans include the second half of January, the first half of February, the second half of February, and the first half of March. Conversely, on Jan. 16, the assessed half-month laycans comprise the first half of February, the second half of February, the first half of March, and the second half of March.

Here is an example of the FOB Korea half-month laycans assessed over Jan. 1-15 and Jan. 16-31 (before and after the rollover of the assessment laycans):

Code Description Example Jan 1-15 Example Jan 16-31
PHBUA04 Solvent-MX FOB Korea Weekly W2 Second-half January First-half February
PHBUB04 Solvent-MX FOB Korea Weekly W3* First-half February Second-half February
PHBUC04 Solvent-MX FOB Korea Weekly W4* Second-half February First-half March
PHBUD04 Solvent-MX FOB Korea Weekly W5 First-half March Second-half March

Under the new methodology, the FOB Korea solvent-MX marker averages the respective third and fourth half-month forward assessments (marked with asterisk in the table above). However, the FOB Korea marker continues to be databased under the code PHAUX04.

Platts originally proposed these changes in a note published on Nov. 4, 2024: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/110424-platts-proposes-methodology-changes-for-weekly-fob-korea-solvent-mx-assessments and announced the decision to implement the changes on Dec. 2, 2024: Platts to implement methodology changes for weekly FOB Korea solvent-MX assessments | S&P Global

Please send any comments or questions to petchems@spglobal.com and pricegroup@spglobal.com .

For written comments, please provide a clear indication if they 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.