Platts launches new CFR India methanol daily assessment Oct.1, 2021

S&P Global Platts has launched a new daily assessment for CFR India methanol that reflects independent, spot physical market values on a delivered basis into India, with effect from Oct. 1, 2021.

Platts first proposed the new daily methanol assessment in a subscriber note published July 26, 2021.

(https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/072621-platts-proposes-to-launch-new-cfr-india-methanol-daily-assessment).

The new daily assessment reflects the following terms and specifications:

Volume: 5,000-10,000 mt cargoes

Delivery timing: 20-45 days forward from the date of publication

Basis: CFR India, basis Kandla, Hazira and Mumbai in West Coast India

Quality: Minimum purity of 99.85%, maximum water content of 0.1% by total weight and maximum ethanol content of 50 ppm

Credit terms: Letter of credit (L/C) of up to 30 days. For deals with non-standard usance, the value of extra credit allowance may be factored in.

UOM: $/mt

Timestamp: 4:30 pm Singapore time (0830 GMT)

Publishing schedule: Singapore publishing schedule.

All pricing information for product delivered into other ports in India such as Cochin, Mangalore or Visakhapatnam, or with other terms and specifications may be normalized to the standard.

Platts reflects only non-sanctioned material in its CFR India methanol daily assessment.

Platts understands that individual companies may have trading limits with counterparties and that national legislation may prevent companies from dealing in materials of certain origins which includes embargoed material. Platts does not reflect trades of supplies from countries under sanctions for this new daily CFR India methanol assessment.

Platts continues to collect, verify and publish price information pertaining to these supplies, clearly stating their origin, and may normalize it to the standard for assessment purposes.

In addition to the daily assessment Platts will also publish a weekly (every Friday) and a monthly averages.

Separately, Platts continues to publish its existing weekly CFR India methanol netback calculation every Wednesday, which has now been renamed to 'Methanol CFR India (netback)'.

The calculation is based on the CFR China methanol assessment from which a netback to FOB Middle East is derived, using the Middle East-China freight assessment. A net forward to CFR India is then produced, using the Middle East-India freight assessment.

The existing weekly CFR India methanol netback and the newly launched daily assessment are published on the Petrochemical service of the Platts Dimensions Pro, in Asian Petrochemicalscan, Solventswire publications, on the Platts Petrochemical Alert pages 348, 412, 449, 653 and 542 and in the Platts price database under the following codes:

Netback calculation:

Code Description before Oct 1 Description from Oct. 1

AABAG00 Methanol CFR India Weekly Methanol CFR India (netback) Weekly

AABAH00 Methanol CFR India Mavg Methanol CFR India (netback) Mavg

New assessment:

Code Description

MLCFI00 Methanol CFR India

MLCFI04 Methanol CFR India WAvg

MLCFI03 Methanol CFR India MAvg

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

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