Platts proposes change in laycan and cargo size approach for CFR India toluene assessment Dec. 13

Platts, part of S&P Global Commodity Insights, proposes to change the CFR India toluene assessment to reflect cargoes delivered 40-60 days forward from the day of the assessment, effective Dec. 13, 2023.

Additionally, Platts proposes to normalize larger and smaller cargoes to the 2,000 mt standard.

Under the current methodology the assessment reflects deliveries in 2,000 mt clips during the third half laycan.

DELIVERY LAYCAN

Platts understands that CFR India toluene market typically specifies shipment/loading date during the month following the day of trade and the cargoes.

Platts has observed that the bulk of the material is imported into India from Thailand, South Korea, Taiwan and China, with voyage times ranging from 15 to 30 days from the date of shipment. The proposed change is aimed at capturing the bulk of this spot trading activity.

For example on Oct. 4, prevailing trade would be observed for first-half November shipment, with the estimated delivery time within December, depending on the origin.

CARGO SIZE

In line with industry feedback and observed changes in trading patterns and norms, Platts proposes to consider traded volumes lower than 2,000 mt or higher than 2,000 mt and normalize it to the standard. For example, a 1,000 mt or a 3,000 mt trade may be normalized to the specification of 2,000 mt for the assessment purpose based on the market feedback.

Please direct any questions or comments to petchems@spglobal.com with a copy to pricegroup@spglobal.com by Nov. 13, 2023.

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.