Platts invites feedback on half-month price indications in FOB Korea toluene assessment process

S&P Global Platts is inviting feedback on the use of bid, offer and trade indications it receives for specific half-month laycans prior to the declaration date for its physical FOB Korea toluene assessment process.

Platts understands that according to the current standard nomination process for toluene cargoes traded on FOB Korea basis, buyers declare the preferred half-month loading by the10th of the preceding month and sellers declare load port 15 days prior to the first day of the declared half-month laycan.

Prior to the declaration date, or before the 10th of every month at 1600 GMT, specific half-month bids, offers and trade indications for next-month loading are deemed to be restrictive in nature and may or may not be taken into consideration for the assessment process.

As such, Platts currently does not take specific half-month bid, offer and trade indications heard prior to the declaration date into consideration in its FOB Korea toluene assessment process.

However, recently Platts has observed that there is a greater volume of half-month bids, offers and trades on FOB Korea basis before declaration date.

Platts would like to invite feedback on whether there has been any change in the standard declaration process for FOB Korea bids, offers and trades, and whether half-month bids, offers and trades before declaration be given equal weightage in the assessment process.

Please send any feedback, comments or questions by Oct. 9 to pricegroup@spglobal.com and petchems@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.