Chemicals, Aromatics, Solvents & Intermediates

November 04, 2024

Platts proposes methodology changes for weekly FOB Korea solvent-MX assessments

Platts, part of S&P Global Commodity Insights, proposes to change the assessment period for its FOB Korea solvent-grade mixed xylenes with effect from Jan. 3, 2025, based on market feedback.

Platts proposes to publish weekly FOB Korea solvent-MX assessments for cargoes loading in the second, third, fourth and fifth half-month laycans, similar to other daily FOB Korea aromatics markets, such as isomer-grade mixed xylene.

All half-month laycans would roll forward on the first and 16th day of each calendar month. For example, on Sept. 1, the half-month laycans assessed would be second-half September, frist-half October, second-half October and first-half November. Meanwhile, on Sept. 16, the half-month laycans assessed would be first-half October, second-half October, first-half November and second-half November.

Here is an example of the FOB Korea on September 1 and September 16 (before and after rollover of assessment laycans):

Sept. 1 Sept. 16
Second-half September First-half October
First-half October* Second-half October*
Second-half October* First-half November*
First-half November Second-half November
*Marker *Marker

Under the new methodology, the FOB Korea solvent-MX marker would average the respective third and fourth half-month forward assessments. Platts would not assess the prompt first half-month laycan.

Currently the FOB Korea assessment reflects cargoes loading 20-40 days forward from the publication date.

Separately, Platts would also like to invite feedback from the market on its other solvent-MX assessments, including CFR Southeast Asia, CFR China and CFR India. Platts also seeks market feedback around standard nomination procedures for the FOB Korea solvent-MX market as well as on the frequency of the assessments.

The respective symbols of the Asian solvent-MX assessments are:

Assessment Symbol
FOB Korea PHAUX04
CFR SEA PHAUP04
CFR China AASBF04
CFR India ASMXA04

Please send any comments or questions to petchems@spglobal.com and pricegroup@spglobal.com by November 21.

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.