SUBSCRIBER NOTE: Platts to launch Toluene CIF ARA daily assessments on Sep 1

Following market feedback, S&P Global Platts has decided to launch daily CIF ARA toluene price assessments from September 1, 2017.

The assessments will reflect spot volumes traded in the Amsterdam-Rotterdam-Antwerp region inclusive of cost, insurance and freight.

Minimum purity will be 99.9%.

The assessments will reflect toluene deliveries within the current (Mo01) and next month (Mo02), as well as within the 5-30 days forward period.

Minimum cargo size will be 1,000 mt and larger parcels will be normalized to 1,000 mt.

Simultaneously, Platts has decided to tie all its existing FOB ARA toluene assessments to the new CIF ARA assessments, with FOB ARA values assessed at parity to CIF ARA toluene values. This replicates a recent methodology change for MX CIF ARA and FOB ARA assessments.

As such, activity in the Platts MOC window for toluene will be done exclusively on a CIF ARA basis, with FOB values for both TDI and nitration grades calculated from the CIF ARA prices.

Platts will publish in the MOC window bids and offers, which reflect full calendar month, half-month cycles and balance-of-the-month dates, in line with the standard market practice. Platts will also accept bids and offers for dated parcels in no shorter than ten-day strips, which will allow buyers greater certainty over dates.

As per previously specified Platts standards no cross-month bids/offers will be accepted in the MOC window. Sellers of CIF ARA toluene parcels should allow at least five clear calendar days for the nomination period.

The above MOC guidelines replicate the MX CIF ARA MOC guidelines, as proposed during the consultation period.

The new toluene assessment will appear in Europe & Americas Petrochemical Scan and Solventswire.

Please direct any questions or comments to pl_petchems_ln@platts.com with a copy to pricemethodology@platts.com.

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.