Platts launches daily PX CFR Taiwan/China derivatives assessments

S&P Global Platts has started publishing daily paraxylene CFR Taiwan/China derivatives assessments from Nov. 2, 2020.

Platts first proposed launching PX derivatives assessments in a subscriber note published Sept. 11: http://plts.co/t4q930rcjnI.

The new PX derivatives assessments reflect transactions of a minimum of 1,000 mt. Platts publishes derivatives assessments for six forward months from the month of publication, and the derivatives assessments roll over on the first business day of the calendar month. These derivatives settle on the average of the physical Platts paraxylene CFR Taiwan/China marker (price database code AAQNE00), and are published in $/mt.

For example, on Nov. 2, 2020, Platts will be assessing December, January, February, March, April and May. On December 1, 2020, Platts will be assessing January, February, March, April, May and June.

Platts will take into consideration the latest information sourced from the market up to the close of the Market on Close assessment process at 4:30 pm Singapore time (0830 GMT) for the new derivatives assessments.

Platts considers for publication in its PX derivatives Market on Close assessment process information from companies that are able to participate in the physical PX MOC, subject at all times to adherence with Platts editorial standards. Other entities with interest to participate in Platts MOC assessment may initiate the process via https://www.spglobal.com/platts/en/our-methodology/participation-review

Participants will be able to improve bids and offers at a minimum of 50 cents/mt and a maximum of $1/mt in a minimum of 30 seconds, in line with Platts incrementability standards right up until 4:30:00:999 pm Singapore time, the closing time for the PX physical MOC process in Asia. A one-minute extension period will be triggered by any price move or a re-bid/re-offer in the last 30 seconds prior to the close of the MOC process at 4:30:00:999 pm Singapore time. The period for testing repeatability of a bid or offer traded near the close will be 4:30:01:000-4:31:00:999. Following a trade, the traded bid or offer can be repeated within 30 seconds.

The new daily PX CFR Taiwan/China derivatives assessments are published on the Platts Market Center, Asian Petrochemical Scan and Petrochemical Alert (PCA) pages 214 and 337 under the following price database codes:

Assessment Symbol

Paraxylene CFR Taiwan/China Financial $/mt Mo01 AARNM01

Paraxylene CFR Taiwan/China Financial $/mt Mo02 AARNM02

Paraxylene CFR Taiwan/China Financial $/mt Mo03 AARNM03

Paraxylene CFR Taiwan/China Financial $/mt Mo04 AARNM04

Paraxylene CFR Taiwan/China Financial $/mt Mo05 AARNM05

Paraxylene CFR Taiwan/China Financial $/mt Mo06 AARNM06

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

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 these comments available on request.

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