Platts to launch raffinate-1 CFR Northeast Asia assessment Oct 4, 2024

Platts, part of S&P Global Commodity Insights, will launch a weekly outright spot raffinate-1 CFR Northeast Asia assessment and its cash differential against the corresponding Platts Naphtha C+F Japan Cargo assessment (PAAAD00) on the day of the assessment, effective Oct. 4, 2024.

The cash differential represents a spot premium or discount of the raffinate-1 CFR Northeast Asia assessment against the midpoint of the Platts Naphtha C+F Japan Cargo (PAAAD00).

Platts will assess the CFR Northeast Asia raffinate-1 assessments on a weekly Friday basis 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;

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 will reflect spot values on a weekly basis on Friday as of 4:30 pm Singapore time and follow the Singapore publishing calendar.

The new assessment will 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.

The new assessment was first proposed in a subscriber note published on Aug. 19 and available here.

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081924-platts-proposes-to-launch-raffinate-1-cfr-northeast-asia-assessment-oct-4

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