Platts suspends reflection of Chengli terminal in CFR Taiwan/China PX assessments

S&P Global Platts is temporarily suspending reflection of the Chengli terminal at Jiangyin, China in its CFR Taiwan/China Paraxylene assessments, effective June 2, 2020.

Platts understands there are severe constraints surrounding the discharge of paraxylene cargoes into the Chengli terminal at Jiangyin, and will exclude the terminal from its Market on Close assessment process for PX in Asia with immediate effect. Platts will continue to monitor deliveries into Chengli terminal.

Discharge operations at another major PX terminal owned by Sanfangxiang are understood by Platts to be normal. As such, Platts will continue to reflect Jiangyin as a delivery location in its basket of ports for its CFR Taiwan/China PX assessment.

For trades reported through the MOC process, buyers should not nominate the Chengli terminal.

Platts would like to remind market participants that terminal nominations for trades published in the PX CFR Taiwan/China Market on Close assessment process be reasonably performable within the published laycan and should account for current infrastructure conditions.

Buyers should not knowingly nominate terminals that have a high probability of being unavailable for performance. Trades are subject to performance review and failure to adhere to Platts editorial guidelines can lead to a review of participation status.

Please send questions or comments to petchems@spglobal.com and pricegroup@spglobal.com.

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 to the public upon request.