Chemicals, Aromatics

August 17, 2023

Platts proposes to update the CFR China benzene physical marker letter-of-credit to 30 days

Platts, part of S&P Global Commodity Insights, proposes to update the reference number of days in letter of credit terms for the CFR China benzene physical marker from 90 days to 30 days, effective Nov. 1, 2023.

Platts has observed a significant shift among bulk of the market participants adopting the use of 30-day Letters of Credit in the CFR China benzene market, underpinned by the rising interest rates, as opposed to a 90-day Letter of Credit.

The proposed change would affect the following assessments.

Assessment name Code
Benzene CFR China Marker AAXVK00
Benzene CFR China W3 AAXWK00
Benzene CFR China W4 AAXXK00
Benzene CFR China W5 AAXYK00
Benzene CFR China W6 AAXYL00

These prices are currently published in the Asian Petrochemicalscan, on fixed pages PCA PCA 206, PCA 235, PCA 322, PCA 413 and PCA 542 in the Platts price database under the codes above.

Please send any feedback, comments or questions to pricegroup@spglobal.com and petchems@spglobal.com by Oct. 3, 2023.

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.