Platts changes CFR India styrene monomer assessment credit terms to L/C 90 days

S&P Global Platts has changed the credit terms for its weekly CFR India styrene monomer assessment to reflect letter of credit (L/C) 90 days with effect from May 3, 2021.

Platts first proposed the change in L/C terms in a subscriber note published March 9, 2021: https://bit.ly/3lHvISc.

Previously, the weekly CFR India styrene monomer assessment reflected credit terms of L/C 30 days. Platts understands that a vast majority of spot trades into India have moved to basis L/C 90 days, and the change better reflects current standard market practice. Bids, offers and trade indications on other credit terms may be normalized to L/C 90 days standard.

Platts publishes CFR India styrene monomer in $/mt at the close of Asian trade at 4:30 pm Singapore time (0830 GMT), every Friday.

The affected assessment is published on Platts Petrochemical Alert fixed pages 340, 412 and 449, The Petrochemicals Service on the Platts Platform on the Platts Market Center, in the Asian Petrochemical Scan or APS and in the Platts database under the codes listed below.

Assessment Weekly Code Monthly Average

Weekly CFR India AABAA00 AABAB00

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