S&P Global Commodity Insights to launch daily PTA FOB China assessment

Platts, part of S&P Global Commodity Insights, will launch a daily spot assessment for purified terephthalic acid (PTA) on a FOB China basis, in light of increasing export volumes from China amid growing capacity, effective July 3, 2023.

The assessment will be based on the latest information sourced from the market up to the close of the assessment process at 4:30 pm Singapore time (0830 GMT). It will be published in $/mt and follow the Singapore publishing schedule.

The proposed assessment will reflect the product with the following parameters:

Cargo size: 1,000-3,000 mt

Quality specifications:

Minimum purity of 95%.

Timing: Loading 15-30 days forward from the date of publication

Location basis: FOB China: Dalian, Gulei, Hainan, Lianyungang, Ningbo, Zhangjiagang, Zhapu, Zhuhai

Credit terms: Up to L/C 90 days

Pricing information for material with other specifications and terms may be normalized to the proposed standard.

The assessment will be published alongside Platts existing PTA assessments in Polymerscan and Asian Petrochemicalscan as well as on the Platts real-time petrochemical service, Platts Market Center, Platts Dimensions Pro, and Platts Petrochemicals Alerts on fixed pages 0542, 0179, and 0737.

The symbols for the assessments are as follows:

Please send all comments, feedback, and questions 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 upon request.