Platts to change CFR India toluene assessment credit terms to L/C 90 days

Following a period of feedback, S&P Global Platts will change the credit terms for its daily CFR India toluene assessment to reflect letter of credit (L/C) 90 days, from July 1, 2021.

Platts first proposed the change in L/C terms in a subscriber note published April 15, 2021 (https://bit.ly/3fgVtqM)

Currently, the daily CFR India toluene assessment reflects 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 will better reflect current standard market practice. Bids, offers and trade indications on other credit terms may be normalized to the proposed 90 days standard.

Platts publishes CFR India toluene in $/mt at the close of Asian trade at 4:30 pm Singapore time (0830 GMT) daily.

The affected assessment is published on Platts Petrochemical Alert fixed pages 218, 326, 235, 436 and 449, on Platts Market Center, in the Asian Petrochemical Scan, or APS, and in the Platts database under the codes listed below:

Assessment Daily Weekly Monthly average

Toluene CFR India AAVBQ04 AATBQ04 AAVBQ03

Toluene CFR India cash differential AATBR00 AATBR03

Please send all comments, feedback and questions to petchems@spglobal.com and pricegroup@spglobal.com.

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