SUBSCRIBER NOTE: Platts proposes changing spot US PGP delivery timing, frequency

Platts proposes changing the basis for the spot US polymer grade propylene assessments from a three- to 30-day basis to current delivery month (M1) and a next delivery month (M2) effective July 1, 2015. Additionally, the new spot M1 M2 assessment will be published daily, in lieu of its current Friday-only publication schedule. Based on market feedback, the three- to 30-day timing window is not reflective of the US olefins spot market, as the primary delivery mechanism for propylene in the US is through pipeline and follows pipeline scheduling. Additionally, the daily transactional nature of PGP suggests a more frequent assessment schedule. Based on industry feedback regarding pipeline delivery scheduling, Platts proposes that the current delivery month roll into next delivery month three calendar days prior to the end of the month. If this day falls on a weekend or holiday, Platts will roll its US olefins assessments to the next month on the next business day. Please send any feedback or questions to petchems@platts.com and pricegroup@platts.com by May 4. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.