Platts to launch CFR China isomer-grade mixed xylene assessments June 1

S&P Global Platts will launch daily assessments for CFR China isomer-grade mixed xylene, on June 1, 2020, to complement existing assessments of isomer-MX in Northeast Asia as well as to better reflect the Asian isomer-MX market.

China has emerged as an important and sizeable importer of isomer-MX in Northeast Asia in recent years with demand from both new paraxylene producers as well as from gasoline producers and blenders within China becoming important factors in the Northeast Asian spot market.

Similar to its FOB Korea and CFR Taiwan assessments, Platts will assess 3,000 mt cargoes for arrival into the port of Zhangjiagang, reflecting 90-day Letter of Credit payment terms. Platts may normalize deliveries into all other China ports by using prevailing freight differentials.

Platts will assess CFR China isomer-grade mixed xylene over the second, third, fourth and fifth half-month forward cycles. These will roll forward on the 1st publication day of each calendar month and on the first publication day after the 15th of each calendar month. The daily CFR China isomer-grade mixed xylene marker will be the average of the third and fourth half-month forward cycles. For example, on June 1, Platts will be assessing H2 June, H1 July, H2 July and H1 August, with the marker comprising the average of H1 July and H2 July. On June 16, Platts will be assessing H1 July, H2 July, H1 August and H2 August, with the marker comprising the average of H2 July and H1 August.

The new assessments will reflect the same quality specifications as the existing FOB Korea and CFR Taiwan assessments, conforming to latest edition of international standard ASTM D-843, but with maximum bromine index of 20 ppm, maximum ethylbenzene content of 18% by wt, maximum non-aromatics content of 1% by wt and minimum paraxylene content of 18% by wt.

The assessments will reflect the prevailing market value at 4:30 pm Singapore time (0830 GMT) on each publication day, and will follow the Singapore publishing schedule.

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