Platts proposes to launch new India domestic methanol ex-tank assessment Sept. 16

Platts, part of S&P Global Commodity Insights, is proposing to start publishing a new daily assessment for India domestic ex-tank methanol from Sept. 16, 2022.

This follows Platts observation of an increase in methanol imports in India and the country's growing methanol demand. A domestic ex-tank assessment will provide a broader picture of the trades happening in India domestic methanol market which is largely import driven and possess enough liquidity to be tracked on daily basis.

The proposed assessment, in Rupees/kg, will reflect 200-500 mt supplies loaded onto road tankers from import terminals at Kandla port in the West Coast of India, 0-15 days forward from the date of publication. The assessment will also reflect bids, offers and trades on 70 days open credit basis, and reflects methanol with minimum purity of 99.85%; maximum water content of 0.1% by total weight; maximum ethanol content of 50 ppm, conforming to the IMPCA methanol reference specifications.

Platts will take into consideration price information sourced from the market up to the close of the assessment process at 4:30 pm Singapore time (0830 GMT) for the new ex-tank methanol assessment.

Platts will also take into consideration price information from Mumbai port, ex-tank trades of other sizes, as well as any deviation in credit terms, and will normalize them to the proposed standard for the assessment as per the industry norms.

Platts is also proposing to publish the Rupees/kg assessment in $/mt, using the Platts daily foreign exchange rate for US dollar to Rupees (AAFGW00) assessment time stamped at 4:30 pm Singapore time, and a conversion factor of 1 metric ton to 1,000 kg.

Please direct any questions or comments to petchems@spglobal.com with a copy to pricegroup@spglobal.com by Aug. 17, 2022.

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.