Platts proposes to launch raffinate-1 CFR Northeast Asia assessment Oct 4

Platts, part of S&P Global Commodity Insights, proposes to launch a weekly raffinate-1 assessment on CFR Northeast Asia basis, effective Oct. 4, 2024.

Platts would assess the CFR Northeast Asia raffinate-1 assessment as a cash differential to the Platts C+F Japan naphtha assessment (Mean of Platts Japan, or MOPJ), with the following parameters:

Volume: 2,000 mt;

Quality: Minimum 40% of isobutene content;

Timing: Delivery 20-40 days forward from the date of publication;

Location basis: CFR Northeast Asia, which includes South Korea (Daesan, Ulsan, Yeosu), Japan (Mizushima, Chiba, Tokuyama, Kashima, Ube, Oita, Yokkaichi, Kawasaki), Taiwan (Mailiao, Kaohsiung), China (Nantong, Tianjin, Dalian, Shanghai, Ningbo, Guangzhou);

Payment terms: Letter of credit up to 30 days;

Cash differential, also known as premium or discount, represents the price counterparties trade against the benchmark values published. Market information for product with other specifications and non-standard terms may be considered for the assessment and may be subject to normalization to the standard specifications and terms.

The new assessment would be published alongside Platts' existing butadiene assessments in the Olefinscan as well as on the Platts real-time petrochemical service, Platts Market Center, and Platts Connect. Please send all feedback, comments and questions to petchems@spglobal.com and pricegroup@spglobal.com by Sept. 4.

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.