Platts changes frequency of ethylene CIF Med, Chem grade propylene FD, CIF NWE assessments to daily

Platts, part of S&P Global Commodity Insights, has changed the frequency of ethylene CIF Mediterranean, as well as chemical grade propylene on a free delivered and CIF NWE basis spot assessments from weekly to daily, effective Oct. 2.

The change aims to better encapsulate price changes through the course of the week. The assessments are now based on the latest information sourced from the market up to the close of the assessment process at 4:30 pm UK time on a daily basis.

Previously, these markets were only assessed on Friday, based on information collected across the week.

The current methodology for these assessments can be found in the Platts European Chemicals specifications guide here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/petrochemicals/european-petrochemicals-methodology

Platts published the proposal to make this change Aug. 11 here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081123-platts-proposes-to-change-ethylene-cif-med-and-chem-grade-propylene-fd-and-cif-nwe-assessments-from-weekly-to-daily

Platts published the decision to proceed with this change Sept. 1 here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/090123-platts-to-change-ethylene-cif-med-and-chem-grade-propylene-fd-and-cif-nwe-assessments-to-daily-from-weekly

As part of the change, Platts has renamed the weekly symbols by removing the word "weekly", and has launched separate symbols for weekly averages, which will be published on Fridays or the last working day of the week.

The following symbols are affected:

The new weekly symbols are:

The assessments are published alongside other ethylene and propylene assessments in Olefinscan and Polymerscan, on fixed pages PC0236, PC0237, PC0438, PC0439, PC0308, PC0300, on the Platts real time petrochemical service, in the Platts Market Center and on Platts Dimensions Pro.

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

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