Platts proposes to launch North Asia propane derivatives assessments

Platts, part of S&P Global Commodity Insights, is proposing to launch a series of price assessments reflecting North Asia propane derivatives, inter-regional propane derivatives and inter-product derivative spreads from Oct. 1, 2024.

Platts is proposing to publish Month 1, Month 2, Month 3, and front-quarter North Asia propane derivative assessments, along with North Asia propane/Saudi Aramco Contract Price propane derivative spreads and North Asia propane/Mean of Platts Japan naphtha derivative spreads on the same forward strip.

TIMESTAMP: The North Asia propane derivatives assessments and the North Asia propane/Saudi Aramco CP propane derivative spreads would reflect the close of Asia LPG trading at 5:00 pm Singapore time (0900 GMT). The North Asia propane/MOPJ naphtha derivative spreads would be calculated from the corresponding Platts assessments at their respective close.

VOLUME: The new propane outright assessments and derivative spreads would reflect a tradeable clip size of 5,000 mt.

The proposed North Asia propane derivatives assessments would be based on bids, offers, or trades seen during the Platts Market on the Close assessment process. In the absence of any bids, offers or trades in the MOC, information from derivative exchanges or heard in over-the-counter markets may be taken into consideration.

Platts has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers during the MOC process in order to ensure an orderly and transparent price assessment process. Details can be found in this guide: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/oil-timing-increment-guidelines.pdf.

Please send comments and questions to asia_products@spglobal.com and pricegroup@spglobal.com by Aug. 30, 2024. 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.