Platts proposes to update North China domestic UCO assessment, Jul 1

Platts, part of S&P Global Commodity Insights, is proposing to update the incoterms and specifications for its North China domestic Used Cooking Oil (UCO) assessments, effective July 1, 2025.

The proposed changes would better reflect the contract terms and specifications of UCO currently traded in the spot market of domestic China.

From July 1, the North China UCO domestic assessment would reflect transactions on a delivered at place (DAP) basis Tianjin port, where the cost of delivery is borne by the seller. The assessment would reflect UCO delivered one to seven days forward from the date of publication. Other locations may be considered and normalized back to the basis port.

The assessment currently reflects material on an ex-works basis Tianjin and Hebei provinces in North China.

The assessments and their associated symbol nomenclature would be updated to reflect the new incoterm and basis accordingly: UCO DAP Tianjin, North China.

In addition, Platts is also proposing to update the assessment specifications to reflect an Acid Value less than or equal to 15 mg KOH/g, maximum of 7% free fatty acids (FFA), and a maximum of 2% moisture, impurities, and unsaponifiable (MIU).

The other specifications would remain unchanged.

Platts continuously reviews its assessment methodology and seeks to reflect the most up-to-date specifications observed for its market coverage.

The assessments affected and the proposed updates to incoterms and specifications are listed in the table below:

Timed to the proposed changes to its North China domestic UCO assessment, Platts will launch new daily assessments for South China and East China domestic Used Cooking Oil, effective July 1, 2025. More details can be found here: Platts to launch South and East China UCO assessments, effective July 1 | S&P Global .

Platts launched the North China domestic UCO daily assessments Oct.1, 2024.

The assessments are published on Platts Biofuels Alert pages 2310, 2311 and 2312, in daily Platts Biofuelscan and Weekly Biomass-Based Diesel Report.

The full Global Biofuels methodology & specifications guide can be found at https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/agriculture/biofuels-methodology .

Platts invites feedback, comments and questions on this proposal to MRTS_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com by Jun 20, 2025.

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 upon request.