14 Oct 2022 | 10:46 UTC

Platts to launch new FOB China toluene assessment Nov 1

Following market feedback, Platts, part of S&P Global Commodity Insights, will start publishing new daily assessments for toluene on FOB China basis from Nov. 1.

This follows Platts observation of an increase in toluene exports from Chinese ports over the last two years. Platts first proposed launching these new assessments in a subscriber note published Sept. 23, 2022: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/092322-platts-proposes-to-launch-new-fob-china-toluene-assessment-nov-1

The assessments, in $/mt, will reflect 3,000-6,000 mt toluene cargoes loading from Ningbo, Zhangjiagang, Jiangyin and Nantong in East China in the third and fourth half-month forward cycles from the date of publication. The FOB China marker would average the third and fourth half-month assessments.

The assessments will also reflect nitration-grade conforming to the latest edition of international standard ASTM D-841, but with a minimum guaranteed purity level of 99.5%. The assessments will also reflect bids, offers, trades and price information on a letter of credit at sight basis.

Platts will also take into consideration price information for cargoes of other sizes loading from other Chinese ports, such as Maoming, Huizhou, Dongguan, Zhuhai, Dalian, Tianjin, non-standard credit usance and toluene with higher purity level, and will normalize them to the standard for the assessments.

The new assessments will be based on price information sourced from the market up to the close of the assessment process at 4:30 pm Singapore time (0830 GMT). The assessments would follow the Singapore publishing schedule.

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

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.