Platts proposes to launch LDPE CFR South Asia daily spot assessment

S&P Global Platts is proposing to launch a daily spot assessment for general-purpose low density polyethylene on a delivered basis into South Asia on Sept. 1, 2021.

The proposed LDPE CFR South Asia assessment will reflect 100-250 mt cargoes for delivery 15-45 days forward from the date of publication into Nhava Sheva and Mundra.

The assessment will also reflect LDPE with a melt flow index of 0.3-4.0, and letter of credit of up to 30 days.

Bid, offer and trade indications of other standards, and for delivery into other ports in India and South Asia may be normalized to the proposed standards.

Platts will publish the new LDPE CFR South Asia assessment in $/mt at the close of Asian trade at 4:30 pm Singapore time.

The new daily assessment will follow the Singapore publishing schedule, and its weekly average will be published at the close of Asian trade every Wednesday.

The new assessment is to meet growing demand for pricing information in the South Asian LDPE market, and will complement Platts suite of polyethylene assessments into South Asia.

Apparent demand for LDPE in India, the major importer in South Asia, is estimated to rise 3.8% in fiscal year 2020-2021 (April 2020-March 2021), compared with an estimated growth rate of 3.6% in FY 2019-2020, according to data from CPMAI and industry sources.

Imports are estimated at 200,000 mt in FY 2020-2021, down slightly from 230,000 mt in the previous fiscal year.

Please send all comments, feedback and questions to petchems@spglobal.com and pricegroup@spglobal.com by July 13.

For written comments, please provide a clear indication if they 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.