SUBSCRIBER NOTE: Platts to launch MX CIF ARA daily assessment on March 1

Following market feedback, S&P Global Platts decided to launch a daily CIF ARA mixed xylenes price assessment from March 1, 2017.

The assessment will reflect spot volumes traded in the Amsterdam-Rotterdam-Antwerp region inclusive of cost, insurance and freight.

Specifications for the MX CIF ARA assessment would conform to the latest edition of ASTM D-843, with one or more isomers removed; the non-aromatics content set at the maximum of 2% and the maximum ethylbenzene content at 20%.

There would be no limits on metaxylene, paraxylene and orthoxylene content.

The assessment would reflect MX loading 5-30 days forward, with a minimum cargo size of 1,000 mt, normalized to 1,000 mt.

Simultaneously, Platts has decided to tie both its existing FOB MX assessments to the newly launched CIF assessment, with FOB values assessed at parity to CIF MX ARA marker. This follows after a proposed fixed premium of $12/mt on FOB values over CIF found little to no support from most industry participants.

As such, activity in the Platts MOC window for MX will be done exclusively on CIF ARA basis, with FOB values for both isomer and solvent grades calculated off the CIF ARA price.

Platts will publish in the MOC window bids and offers, which reflect full calendar month, half-month cycles and balance-of-the-month dates, in line with the standard market practice. Platts will also accept bids and offers for dated parcels in no shorter than ten-day strips, which will allow buyers greater certainty over dates.

As per previously specified Platts standards, no cross-month bids/offers will be accepted in the MOC window. Sellers of CIF MX parcels should allow at least five clear calendar days for nomination period.

Please direct any questions or comments to pl_petchems_ln@platts.com with a copy to pricemethodology@platts.com.

Please provide a clear indication if comments are intended for publication by Platts for public viewing.

Platts will consider all comments received and will make these comments available on request.