Platts to launch new India domestic methanol ex-tank assessments Sept 26

Following market feedback, Platts, part of S&P Global Commodity Insights, will start publishing new daily assessments for India domestic ex-tank methanol from Sept. 26.

This follows Platts observation of an increase in methanol imports in India and the country's growing methanol demand. A domestic ex-tank assessment will provide a broader picture of the prices observed in India's domestic methanol market, which is largely import driven and has sufficient liquidity to be assessed on a daily basis.

Platts first proposed publishing these assessments in a subscriber note published July 28: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/072822-platts-proposes-to-launch-new-india-domestic-methanol-ex-tank-assessment-sept-16 .

Platts will publish an assessment in Rupees/kg reflecting 100-300 mt supplies loaded onto road tankers from import terminals at Kandla port in the West Coast of India, 0-15 days forward from the date of publication. The assessment will reflect bids, offers and trades on 70 days open credit basis, and will reflect methanol with minimum purity of 99.85%; maximum water content of 0.1% by total weight; maximum ethanol content of 50 ppm, conforming to the IMPCA methanol reference specifications.

Platts will take into consideration price information sourced from the market up to the close of the assessment process at 2 pm Mumbai time (4:30 pm Singapore time; 0830 GMT) for the new India ex-tank methanol assessment.

Platts will also consider price information from Mumbai port, ex-tank trades of other sizes, as well as any deviation in credit terms, and will normalize them to the standard for the assessment as per the industry norms.

Platts will also publish the Rupees/kg assessment in US$/mt, using the Platts daily foreign exchange rate for US dollar to Rupees (AAFGW00) assessment time stamped at 4:30 pm Singapore time, and a conversion factor of 1 metric ton to 1,000 kg.

The new assessments will be published in the Asia Petrochemicalscan, Platts Petrochemical Alert pages 348, 449, 542 and 653, on the Petrochemical service on Platts Dimensions Pro and in the Platts price database.

Please send any questions or comments to petchems@spglobal.com and pricegroup@spglobal.com.

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