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

S&P Global Platts has changed the credit terms for its daily CFR India toluene assessment to reflect letter of credit (L/C) 90 days with effect 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)

Previously, the daily CFR India toluene assessment reflected 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 better reflects current standard market practice. Bids, offers and trade indications on other credit terms may be normalized to L/C 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, the Petrochemicals Service 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

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