04 Apr 2024 | 01:38 UTC

Platts to update basis of FOB North Asia UCO and FOB China UCOME assessments, add to ewindow

Platts, part of S&P Global Commodity Insights, will update the assessment region and basis port for FOB North Asia Used Cooking Oil and the basis port for FOB China Used Cooking Oil Methyl Ester, effective May 2.

At present, FOB North Asia UCO is assessed basis FOB East China while FOB China UCOME is assessed basis FOB North China.

Platts understands that the North China is an active UCO collection and UCOME production hub, where a range of market participants operate.

Platts will change and align both assessment regions as North China reflecting a basis port FOB Tianjin. The assessments will continue to reflect cargoes loading 20-40 days from the date of publication, with value normalized to reflect the mean value for the delivery.

The assessments impacted are:

UCOME FOB China $/mt (UCFCA00)

UCO North Asia $/mt (AUCOC00)

FOB North China instruments in eWindow communication tool

Platts will also add the updated FOB North China UCO and FOB North China UCOME as instruments in its eWindow communication tool, effective May 2.

The new instruments will follow these increments and timings:

Timing and increments Proposed
Repeatability within 60 sec
Final state 4.29.00.000
Market close 4.30.00.999
Extension trigger period 4.29.00.000 to 4.30.00.000
Extension state 4.30.01.000 to 4:31:00:999
Maximum price increment $5/mt per 60 secs

Platts will also publish bids, offers and trades for UCO and UCOME cargoes loading in the MOC assessment process in following locations:

FOB Tianjin

FOB Lianyungang

FOB Qingdao

To publish bids, offers and trades on the eWindow communication tool from other ports not listed above, participants may utilize the FOB TQC instrument for both UCO and UCOME.

For example, participants can publish bids, offers and trades from the following eastern ports under the FOB TQC instrument:

FOB Ningbo, for both UCO and UCOME

FOB Shanghai, for UCO

FOB Taizhou, for UCOME

Loadings taking place in other locations in China may be considered in the MOC assessment process and normalized back to reflect value basis Tianjin.

The assessments are published on Platts Biofuels Alert (PBF2310), in the daily Biofuelscan report and weekly Biomass-Based Diesel Report.

Please send any comments or feedback to MRTS_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.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.