Platts changes CFR India phenol, acetone payment terms, delivery basis effective Sep 26

Platts, part of S&P Global Commodity Insights, has updated the CFR India phenol and acetone assessments' payment terms and location basis to align with the current market practice, effective Sept. 26.

The change was first proposed on Aug. 14 . Platts communicated on change on Sept. 26 after the proposal: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/082925-platts-to-change-cfr-india-phenol-acetone-payment-terms-delivery-basis-effective-sept-26

PAYMENT TERMS: Platts has updated the CFR India phenol and acetone assessment payment terms to L/C 90 days. These assessments previously reflected spot deliveries on credit terms of L/C 30-90 days. Platts would normalize any market data deviating from the Platts standard terms back to the standard.

LOCATION BASIS: Platts has specified the location basis for the CFR India acetone assessment to Mumbai, Kandla, and Hazira. Platts was earlier reflecting deliveries into Vizag, alongside the above-mentioned West Coast India ports. Platts understands that the deliveries into Vizag incur additional costs, and the spot values might deviate from the rest of the port basket.

The changes affect the price assessments under the following codes:

The affected assessments are published in the Solventswire, Fiber Marketscan, and on Platts Petrochemical Alert Page: PC3025, PC0447, and PC0242

Please direct any questions or comments to petchems@spglobal.com with a copy to 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.

Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.