Platts launches raffinate-1 CFR Northeast Asia assessment Oct 4

Platts, part of S&P Global Commodity Insights, has launched a weekly outright spot raffinate-1 CFR Northeast Asia assessment and its cash differential against naphtha, effective Oct. 4, 2024.

The cash differential represents a spot premium or discount of the raffinate-1 CFR Northeast Asia assessment against the midpoint of the same day’s Platts Naphtha C+F Japan Cargo (PAAAD00) assessment.

The assessment was first proposed on Aug. 19.

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081924-platts-proposes-to-launch-raffinate-1-cfr-northeast-asia-assessment-oct-4

The decision was made on Sept. 6.

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/090624-platts-to-launch-raffinate-1-cfr-northeast-asia-assessment-oct-4-2024

The assessments is databased under the following symbol codes:

Details of the assessment are as follows:

Volume: 2,000 metric tons;

Quality: Minimum 40% of isobutene content;

Timing: Delivery 20-40 days forward from the date of publication;

Location basis: CFR Northeast Asia, which includes South Korea (Daesan, Ulsan, Yeosu), Japan (Mizushima, Chiba, Tokuyama, Kashima, Ube, Oita, Yokkaichi, Kawasaki), Taiwan (Mailiao, Kaohsiung), China (Nantong, Tianjin, Dalian, Shanghai, Ningbo Guangzhou);

Payment terms: Letter of credit up to 30 days;

Market information for product with other specifications and non-standard terms may be considered for the assessment and may be subject to normalization to the standard specifications and terms.

The new assessment reflects spot values on a weekly basis on Friday as of 4:30 pm Singapore time and follow the Singapore publishing calendar.

The new assessment is published alongside Platts existing butadiene assessments in the Olefinscan as well as on the Platts real-time petrochemical service on PCA 314, Platts Market Center, and Platts Connect.

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 comments not marked as confidential available upon request.