Platts to launch North China domestic UCO market assessment

Platts, part of S&P Global Commodity Insights, will launch a daily assessment for the North China domestic Used Cooking Oil (UCO) assessment, effective Oct. 1, 2024.

Platts has observed growing interest for increased clarity around China's domestic UCO market prices. The decision follows a proposal published on Aug. 15, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081524-platts-proposes-to-launch-north-china-domestic-uco-market-assessment-from-oct-1.

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

The new assessment will reflect 500-1,000 metric tons, other volumes may be considered but will be normalized back to the assessed volume range.

The assessment will reflect UCO loading one to seven days forward from the date of publication ex-works North China basis Tianjin and Hebei province, other locations may be normalized back to the basis location. The assessment will reflect product inclusive of 13% value-added tax and where payment terms are up to 14 days after the transfer of the product.

The assessment will be published on an outright basis in Chinese yuan and converted into US dollars per metric ton using the relevant US dollar/Chinese yuan exchange rate (AAWFW00), reflecting a 1630 Penang timestamp and following the Penang publishing calendar.

The full Global Biofuels methodology & specifications guide, can be found at https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/agriculture/biofuels-methodology.

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

Please submit any further comments, feedback or questions to MRTS_biofuelsandfeedstocks@spglobal.com and pricegroup@spglobal.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.