Platts proposes to launch FOB Baltic Automotive Grade Urea assessment, Jan 2

Platts, a division of S&P Global Commodity Insights, is proposing to launch a weekly price assessment for the Baltic automotive urea market, effective Jan. 2.

In view of increasing demand for Diesel Exhaust Fluid (DEF) in Europe, Platts is proposing the launch of a weekly (Thursday) spot assessment of the FOB market for automotive grade urea in the Baltic.

The proposed assessment would consider market information relating to exports of automotive grade urea from St Petersburg, Russia, as well as Baltic ports in Finland and Poland, with relevant price information normalized where necessary to a basis location of St Petersburg.

The quantity specification for the proposed assessment would be 5,000-7,000 mt, with other volumes normalized where necessary to this point.

The Automotive Grade Urea, FOB Baltic assessment would be published on an outright basis and would consider market information reported to Platts and published as heards throughout the day, including firm bids and offers, trades and indicative values, as well as any other data deemed relevant to the assessment process. Platts will also track market premiums agreed for Automotive Grade Urea, and calculate the outright value using its FOB Baltic prilled urea assessment ( FPUBA04) where necessary.

The proposed assessments would appear in the Platts Nitrogen Market Report, and would be available via Platts Connect.

The proposed assessment would be assessed weekly on a 16:30 London timestamp and would follow the London publishing calendar.

The following specifications are proposed for the daily assessment:

• Assessment Name: Automotive Grade Urea FOB Baltic
• Quality: 46.2-46.3% uncoated prilled urea with a maximum biuret of 1%
• Quantity: 5,000-7,000 mt in containers
• Basis and location: Basis port St Petersburg, Russia. Other ports in the Baltic Sea such as those in Finland and Poland will be considered and normalized where necessary to basis St Petersburg.
• Timing: Loading 30 days forward.
• Frequency: Weekly
• Appears in: Nitrogen Market Report
• Unit of assessment: US dollars per mt.
• Timestamp: 16:30 London close, following the London publishing calendar

Please send any feedback, questions and comments to fertilizer@spglobal.com, and pricegroup@spglobal.com by Nov. 8, 2024.

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.