Platts launches new North China domestic UCO market assessment

Platts, part of S&P Global Commodity Insights, has launched a new daily assessment for the North China domestic Used Cooking Oil (UCO) market, effective Oct. 1, 2024.

Platts has observed growing interest for increased clarity around China's domestic UCO market prices.

The new North China domestic UCO assessment reflects volumes of 500-1,000 metric tons, for product with an Acid Value less than or equal to 15 mg KOH/g, with a maximum of 2% MIU. Other volumes may be considered, normalized back to the assessed volume range.

The assessment reflects UCO loading one to seven days forward from the date of publication on an ex-works basis Tianjin and Hebei provinces in North China. Product loading from other locations in North China may be considered for the assessment, normalized back to the basis location.

In addition, the assessment reflects product inclusive of 13% value-added tax and where payment terms are up to 14 days after the transfer of the product.

The assessment will be published on an outright basis in Chinese yuan per metric ton and converted into US dollars per metric ton using the relevant US dollar/Chinese yuan exchange rate (AAWFW00), reflecting a 1630 Penang timestamp and following the Penang publishing calendar.

Platts North China domestic Used Cooking Oil (UCO) assessments: