Platts proposes to launch North China domestic UCO market assessment from Oct. 1

Platts, part of S&P Global Commodity Insights, proposes to launch a daily assessment for the North China domestic UCO assessment, effective Oct. 1, 2024.

Based on market feedback for increased clarity around China Used Cooking Oil domestic market prices, Platts is proposing the launch of a daily assessment for the North China UCO domestic prices.

The proposed North China UCO Domestic assessment would reflect an Acid Value less than or equal to 15 mg KOH/g, with a maximum of 2% MIU.

The assessment would reflect 500-1,000 mt; other volumes may be considered but will be normalized back to the assessed volume range.

The assessment would reflect UCO loading one to seven days forward from date of publication ex-works North China basis Tianjin and Hebei province, other locations may be normalized back to the basis location.

The proposed assessment would reflect product inclusive of 13% VAT and where payment terms are up to 14 days after the transfer of the product.

The proposed assessment would be published in Chinese Yuan.

Platts proposes to also publish in US dollars per metric tone using the relevant US dollar CNY exchange rate.

The assessment would be assessed daily on a 1630 Penang timestamp and follow the Penang publishing calendar.

The daily assessment will appear in Platts Biofuelscan, weekly Biomass-Based-Diesel report, Platts Biofuels Alert and Platts Connect.

Please send any comments or feedback to MRTS_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.com by Aug. 28, 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.