Chemicals, Aromatics, Solvents & Intermediates

December 02, 2024

Platts to implement methodology changes for weekly FOB Korea solvent-MX assessments

Platts, part of S&P Global Commodity Insights, will change the assessment period for its FOB Korea solvent-grade mixed xylenes with effect from Jan. 10, 2025, to align with the approach in adjacent markets such as isomer-grade mixed xylene and toluene.

The following changes effective Jan. 10 will be in line with the first publication of weekly solvent-grade mixed xylene prices in 2025.

Platts will 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. Platts will not assess the prompt first half-month laycan.

All half-month laycans will 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, first-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 Sept. 1 and Sept. 16 (before and after rollover of assessment laycans):

Code Description Example on Sep 1 Example on Sep 16
PHBUA04 Solvent-MX FOB Korea Weekly W2 Second-half September First-half October
PHBUB04 Solvent-MX FOB Korea Weekly W3 First-half October* Second-half October*
PHBUC04 Solvent-MX FOB Korea Weekly W4 Second-half October* First-half November*
PHBUD04 Solvent-MX FOB Korea Weekly W5 First-half November Second-half November

Under the new methodology, the FOB Korea solvent-MX marker would average the respective third and fourth half-month forward assessments (marked with asterisk in the table above). The FOB Korea marker will continue to be databased under the code PHAUX04. Currently, this assessment reflects cargoes loading 20-40 days forward from the publication date.

Separately, following market feedback, Platts will not make any changes to the assessment period of its CFR Southeast Asia (PHAUP04) and CFR China (AASBF04) solvent-MX assessments.

Platts originally proposed these changes in the note published on Nov. 4, 2024: Platts proposes methodology changes for weekly FOB Korea solvent-MX assessments | S&P Global Commodity Insights (opens in a new tab).

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

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