Platts proposes to extend FOB Korea benzene derivatives assessments to six months forward

S&P Global Platts proposes to extend the assessment of the FOB Korea benzene derivatives to six months forward from the date of publication, effective Dec 1, 2021, to provide further transparency on the forward curve.

Platts currently publishes assessments for balance of the month (M0) and next three months forward (M1, M2, M3). Under the proposal Platts would add M4, M5 and M6 assessments. Platts has observed sustained increased liquidity on these contracts.

The new assessments would reflect the daily values of these derivative contracts at 4.30 pm Singapore time for minimum 1,000 mt lots, in line with the industry standard.

The assessments would roll on the first day of the month and would be based on reported trades, bids, offers, indicative values and other pricing information, collected throughout the day.

Platts would publish all relevant pricing information for these assessments in real time on the Platts petrochemical alert PCA0005.

Full details of the current Platts benzene derivatives methodology can be found here https://www.spglobal.com/platts/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/asia_pacific_petrochemicals.pdf.

The proposed assessments would be published on Platts Petrochemical Alert page PCA0766 and the Petrochemicals Service on Platts Market Center, in the Asian Petrochemical Scan, or APS, in the Platts database and on the Platts Dimensions Pro platform.

Please send feedback and questions to petchems@spglobal.com with a copy to pricegroup@spglobal.com by Nov. 1, 2021.

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 to the public upon request.