Platts seeks feedback on its Asian Toluene methodology

Platts, part of S&P Global Commodity Insights, is seeking feedback on its assessment methodology for Asian toluene FOB Korea prices.

Platts has observed an increase in the production and consumption of higher purity toluene to a minimum of 99.5% purity in the Northeast Asia, Southeast and South Asia markets. In addition, these cargoes constitute the major share of spot market activity in the big berths in South Korea, namely Yeosu, Ulsan and Onsan.

Platts is therefore seeking feedback on how to best reflect current market conditions in its FOB Korea toluene methodology. Platts is currently seeking feedback on the following:

** Changing the benchmark specifications to align with the widely traded and accepted minimum 99.5% purity nitration grade toluene, and removing the dated ASTM D-841 standard.

** Maintaining the benchmark assessment methodology to reflect values for cargoes of unrestricted origin.

** Aligning the assessments to cargoes transacting out of big berths, namely Yeosu, Ulsan and Onsan in South Korea, while normalizing any other trades in smaller berths, namely Daesan in South Korea.

Platts also welcomes feedback on the timing of any potential changes and other parameters of its toluene assessment methodology not explicitly mentioned above.

Please send all feedback, questions or comments to petchems@spglobal.com and PriceGroup@spglobal.com by Jan 31, 2024.

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 make comments not marked as confidential available upon request.