Platts to publish one-time differential for Asian paraxylene CFR Taiwan/China

Following industry feedback on its decision to update the methodology for Asian paraxylene (PX) CFR Taiwan/China assessments, Platts, part of S&P Global Commodity Insights, will publish a one-time differential for near-haul and long-haul PX cargoes, at 11 am Singapore time on Nov. 21.

Platts in a subscriber note published Nov. 20 announced its decision to update the methodology for the benchmark assessment, effective Jan. 2, 2024, to reflect more closely the typical PX trade flows.

Platts has observed that the majority of PX supplies into China come from South Korea, Japan, Taiwan or Southeast Asia. Latest data from Chinese customs supported this, with more than 90% of the total PX imports so far in 2023 having arrived from these origins, with the trend of their increasing share observed over the past several years.

Platts received extensive feedback from market participants demonstrating broad support to reflect the totality of the PX CFR China/Taiwan market, including material from all origins. Assessments will be normalized to standard specifications and terms, including vessel size, credit and discharge terms.

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.