SUBSCRIBER NOTE: Platts adds laycans to Asian Styrene Monomer assessments

Please note that effective August 1, Platts will add one additional half-month laycan to its daily Asian styrene monomer FOB Korea LC at sight assessments and two additional half-month laycans to CFR China LC 90 days assessments.

Previously, daily FOB Korea assessments evaluate cargoes for loading in the second, third, fourth and fifth half-month forward cycles.

Each half-month assessment cycle covers 15 or 16 days.

For example, on March 1, 2016, the half-month cycles assessed would be H2 March, H1 April, H2 April and H1 May.

Daily CFR China assessments evaluate cargoes for delivery in the second, third and fourth half-month forward cycles.

Platts had proposed to extend FOB Korea to include a sixth half-month cycle, and to extend CFR China to include a fifth and sixth half-month cycle.

Based on industry feedback, the change reflects more forward trading patterns in Asia.

The new assessment methodology for FOB Korea and CFR China is as follows:

ASSESSMENT WINDOW: Daily FOB Korea LC at sight assessments and CFR China LC 90 days assessments are based on latest information sourced from the market up to the close of the assessment window at 4:30 pm Singapore time (0830 GMT) daily.

TIMING: Any time during that half month cycle

BASIS AND LOCATIONS: Daesan, Ulsan, Yeosu (FOB Korea), Jiangyin, Nantong, Ningbo, Zhangjiagang (CFR China)

CARGO SIZE: 2,000 mt

TERMS AND CONDITIONS: LC at sight and 90 days credit terms

QUALITY SPECIFICATION: ASTMD 2827

Please send any feedback, questions, or comments to petchems@spglobal.com with a copy to pricemethodology@spglobal.com.