Platts proposes to update PET FOB Northeast Asia assessment

Platts, part of S&P Global Commodity Insights, is proposing to update its methodology for the Asian polyethylene terephthalate (PET) assessment, effective Feb. 7, 2025, to reflect China's export volumes as the mainstream source of Northeast Asian liquidity.

Platts would consider Chinese main ports as the location basis for the FOB Northeast Asia assessment. Information basis other non-Chinese ports in Northeast Asia will be normalized to the assessment location basis for consideration in the assessment.

Other aspects of the methodology would remain unchanged as follows:

Timing: Loading 15-30 days forward from the date of publication.

Standard cargo size: 100-500 mt

Credit terms: L/C 30 days. Market information with nonstandard terms may be considered for the assessment and may be subject to normalization to the standard terms.

Quality: Bottle-grade PET, minimum intrinsic viscosity of 0.76.

These proposed changes would affect the price assessments under the following codes:

The proposed changes will be published alongside Platts' existing PET assessments in Polymerscan and Asian Petrochemicalscan as well as on the Platts real-time petrochemical service, Platts Market Center, Platts Dimensions Pro, and Platts Petrochemicals Alerts on fixed pages 0625, 0626, and 0627.

Please send all comments, feedback and questions to petchems@spglobal.com and pricegroup@spglobal.com by Jan. 7, 2025.

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.