Platts proposes to update US MEG specifications, cargo sizes, description

Platts, part of S&P Global Commodity Insights, proposes to update the specifications and cargo sizes for its existing spot US Gulf Coast monoethylene glycol assessment effective May 29, 2023, to better reflect standard market practices.

Platts understands that MEG with minimum purity of 99.1% is the predominantly produced and the most commonly traded purity in the US. In addition, deepsea export cargoes to Europe and Asia are typically 5,000-10,000 mt.

Platts proposes to assess MEG spot pricing for 99.1% purity cargoes with a typical volume of 5,000 mt. Platts may normalize pricing information reflecting other cargo sizes and purity levels, where applicable.

As part of this change to specification, Platts also proposes to remove the word "anti-freeze" from the symbol description.

The proposed change would affect the following symbols: PHAXF04 (Weekly) PHBDG03 (Monthly average)

The MEG assessment appears in Polymerscan, Olefinscan, Platts Dimensions Pro and Platts Market Center.

Please send any questions, comments or feedback to petchems@spglobal.com and pricegroup@spglobal.com by April 28, 2023. 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.