Platts clarifies assessment approach, rounding for European aromatics, MTBE, ETBE

Effective March 2, 2020, S&P Global Platts will align its European benzene 5-30 day and styrene 5-30 day assessment rounding with existing practice in European toluene, mixed xylenes, orthoxylene and paraxylene, rounding to the nearest $0.25/mt instead of $0.50/mt.

Additionally to align with the minimum $0.25/mt price movements in Platts Europe petrochemicals increment guidelines for its Market on Close (MOC) assessment process, Platts will value bids and offers in the European benzene, styrene, toluene, mixed xylenes, orthoxylene, paraxylene, MTBE and ETBE markets to the nearest 25 cents where applicable.

Currently, Platts typically applies minimum assessment increments of $1/mt above or below bids and offers, respectively.

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