Platts Asian Chemicals Market on Close incrementability changes

Platts, part of S&P Global Energy, is changing the incrementability guidelines to allow bids and offers in the Asia Chemicals (physical) to improve by up to $2/metric ton every 30 seconds. This measure is effective July 28 only.

This is in contrast to the standard incrementability of $1/mt every 30 seconds.

The change applies to the following assessments: Platts PX CFR Taiwan/China cargo, Platts Benzene FOB Korea cargo, Platts Benzene CFR China cargo and Platts MTBE FOB Singapore cargo assessments.

The temporary change for Asia Chemicals reflects current high market volatility resulting from vessel transit issues in the Strait of Hormuz. The standard timing and increment guidelines for the Chemicals Market on Close assessment process can be found here.

Platts reserves the right to change incrementability guidelines in the MOC process throughout the day, depending on evolving market conditions.

Please send feedback, comments and questions to petchems@spglobal.com and pricegroup@spglobal.com.

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Platts will consider all comments received and will make comments not marked as confidential available upon request.