Platts launches North Asia propane derivatives assessments Oct 1

Platts, part of S&P Global Commodity Insights, has launched a series of price assessments reflecting North Asia propane derivatives, interregional propane derivatives and interproduct derivatives spreads effective Oct. 1.

Platts will publish Month 1, Month 2, Month 3 and front-quarter North Asia propane derivatives assessments, along with North Asia propane/Saudi Aramco contract price propane derivatives spread and North Asia propane/Mean of Platts Japan naphtha derivatives spread assessments on the same forward strip.

The new assessments were first proposed in a subscriber note published July 12.

Timestamp: The North Asia propane derivatives and North Asia propane/Saudi Aramco CP propane derivatives assessments will be calculated from existing Platts assessments at the close of the Asian LPG trading session at 5:00 pm Singapore time (0900 GMT). The North Asia propane/MOPJ naphtha derivatives spread assessments will be calculated from existing Platts assessments at their respective close.

Volume: The new propane outright and spread derivatives assessments will reflect a tradeable clip size of 5,000 metric tons. Platts has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers during the Platts Market on Close assessment process to ensure an orderly and transparent price assessment process. Details can be found in this guide: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/oil-timing-increment-guidelines.pdf.

The new propane derivatives assessments will be assessed based on bids, offers or trades seen during the MOC. In the absence of any bids, offers or trades during the MOC, information from derivatives exchanges or heard in over-the-counter markets may be taken into consideration.

The new assessments can be found on LPGaswire and on the fixed page PGL 2652.

Details of the new North Asia propane derivatives and derivatives spreads are as follows:

Please send comments and questions to asia_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.