SUBSCRIBER NOTE: Platts launches MX CIF ARA daily assessment

S&P Global Platts has launched a daily CIF ARA mixed xylene price assessment, effective March 1, 2017. This followed the decision subscriber note sent on February 1, 2017.

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

Simultaneously, Platts has tied both its existing FOB MX assessments to the newly launched CIF assessment, with FOB values assessed at parity to CIF MX ARA marker.

Therefore activity in the Platts MOC window for MX will now be done exclusively on a 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 10-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.

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