Platts launches spread assessments between CFR Taiwan/China main ports and Jiaxing port for paraxylene Aug 3

Platts, part of S&P Global Commodity Insights, has started publishing spread assessments between CFR Taiwan/China main ports and Jiaxing port for paraxylene from Aug. 3, 2023.

Platts first proposed this in a subscriber note published on June 16, 2023 here and the decision note on July 7, 2023 here.

Platts included Jiaxing port as a non-par delivery port in the PX CFR Taiwan/China MOC from Jan. 3, 2022, and considers and publishes Asia-origin bids, which give buyers optionality to receive the cargo in Jiaxing or in any of the four par ports (https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/020322-platts-to-publish-asia-origin-bids-of-cfr-tndjjiaxing-in-paraxylene-cfr-taiwanchina-moc).

PAR AND NON-PAR PORTS: Pricing information pertinent specifically to deliveries into Jiaxing port may be normalized to reflect value at par ports. Standard Taiwan ports, Ningbo, Dalian and Jiangyin, which Platts considers par ports, remain the basis for the Platts CFR Taiwan/China PX assessment. Non-par ports are typically considered to be those with logistical constraints to handle a fully-laden MR-size shipment. Jiaxing port has a maximum draft of 9.6 meters.

The daily spreads will be databased for the two calendar months reflected in the daily CFR Taiwan/China marker assessment.

For example, on Aug. 26, the daily CFR Taiwan/China marker will average the means of the assessed high-low ranges for H1 October, H2 October and H1 November. Platts would publish the port spread assessments for October and November.

The Taiwan/China main ports to Jiaxing port spread assessments will be published in $/mt and will follow the Singapore publishing schedule.

These spread assessments will be published on Platts Petrochemical Alert page 214, page 337 and Asian Petrochemicalscan.

Please send all feedback and comments to petchems@spglobal.com and pricegroup@spglobal.com.

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