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04 Jul 2017 | 01:15 UTC — London
Platts has decided to extend the deadline for comments and queries regarding its proposal to launch a daily CIF ARA toluene assessment.
S&P Global Platts is proposing to launch a daily CIF toluene price assessment from September 1, 2017. In the initial subscriber note, the launch was originally proposed for August 1.
The assessments would reflect barge volumes traded in the Amsterdam-Rotterdam-Antwerp region inclusive of cost, insurance and freight.
Platts previously proposed a specification for the toluene CIF ARA assessment that would conform to the latest edition of ASTM D-841 latest edition, with a minimum purity of 99.7%. However, some initial feedback has suggested that the minimum purity should remain on a par with TDI specification of 99.9%. As such, Platts has extended the consultation period to invite further comments on the most relevant minimum purity specification for the proposed assessment.
The assessments would reflect toluene deliveries within the current (Mo01) and next month (Mo02) as well as within 5-30 days forward.
Minimum cargo size would be 1,000 mt and larger parcels would be normalized to 1,000 mt.
Terms of payment and credit facilities would be as per industry standard.
Simultaneously, Platts is proposing to tie both its existing FOB toluene assessments to the new CIF assessment, with FOB values assessed at parity to CIF.
As such, activity in the Platts MOC window for toluene would be done exclusively on a CIF ARA basis, with FOB values for both isomer and solvent grades calculated daily from CIF ARA values. The guidelines for the toluene MOC window activity would mirror those for CIF ARA MX.
The new toluene assessment would appear in Asian and European Petrochemical Scan and Solventswire.
Platts is seeking feedback until August 1, 2017.
Please direct any questions or comments to pl_petchems_ln@spglobal.com with a copy to pricemethodology@spglobal.com.
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 available comments not marked as confidential upon request.