Platts to launch CFR Brazil Automotive Grade Urea assessment from March 6

Platts, part of S&P Global Commodity Insights, will launch a weekly price assessment for the Brazilian automotive grade urea market, effective March 6.

In view of increasing demand for Diesel Exhaust Fluid, or DEF, Platts will launch a weekly spot assessment on Thursdays of the CFR market for the underlying product, Automotive Grade Urea, or AGU, in Brazil.

The assessment will consider market information related to imports of automotive-grade urea to the Port of Paranagua, Parana state, as well as other Brazilian ports, with relevant price information normalized where necessary to a basis location of Paranagua.

The quantity specification for the assessment will be 500-2,000 mt, with other volumes normalized where necessary to this point.

The Automotive Grade Urea CFR Brazil assessment will be published on an outright basis and will consider market information reported to Commodity Insights and published as heards throughout the day, including firm bids and offers, trades and indicative values, as well as any other data deemed relevant to the assessment process.

Platts will also track market premiums agreed for Automotive Grade Urea and calculate the outright value using its CFR Brazil granular urea assessment, FGUBC04, and other relevant assessments, when necessary.

The assessment will appear in the Platts Nitrogen Market Report, and will be available via Platts Connect. It will be assessed weekly on Thursdays with a 1630 Sao Paulo timestamp and will follow the Sao Paulo publishing calendar.

A summary of the specifications is as follows:

• Assessment Name: Automotive Grade Urea CFR Brazil
• Quality: 46.2%-46.3% uncoated prilled urea with a maximum biuret of 0.9%
• Quantity: 500-2,000 mt in containers
• Basis and location: CFR Paranagua, Parana. Other ports in Brazil will be considered and normalized where necessary to Paranagua
• Timing: Deliveries seven to 40 days from the date of publication
• Frequency: Weekly (Thursdays)
• Unit of assessment: US dollars per mt
• Timestamp: 1630 Sao Paulo, following the Sao Paulo publishing calendar

Platts originally proposed the launch of this weekly price assessment for the Brazilian automotive urea market on Jan. 21 in a subscriber note available here.

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