Platts to change ethylene CIF Med and Chem grade propylene FD and CIF NWE assessments to daily from weekly

Platts, part of S&P Global Commodity Insights, will change the frequency of ethylene CIF Mediterranean, as well as chemical grade propylene on a free delivered and CIF NWE basis spot assessments to daily from weekly, effective Oct.2.

The change will better capture price changes.

The assessments will be based on the latest information sourced from the market up to the close of the assessment process at 4:30 pm UK time on a daily basis.

Currently, the assessments are made on Friday based on information collected across the week.

There will be no changes to the specifications of these assessments.

The current methodology for these assessments can be found in the Platts European Chemicals specifications guide here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/petrochemicals/european-petrochemicals-methodology

The decision follows a proposal published Aug. 11, which can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081123-platts-proposes-to-change-ethylene-cif-med-and-chem-grade-propylene-fd-and-cif-nwe-assessments-from-weekly-to-daily

The following symbols would be affected:

As part of the change, Platts will rename the weekly symbols by removing the word weekly, and will launch separate symbols for weekly averages, which will be published on Fridays or the last working day of the week.

The new weekly symbols will be:

The assessments will be published alongside the existing ethylene and propylene assessments in Olefinscan and Polymerscan, on fixed pages PC0236, PC0237, PC0438, PC0439, PC0308, PC0300, on the Platts real time petrochemical service, in the Platts Market Center and on Platts Dimensions Pro.

Please send all comments, feedback and questions to petchems@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.