Our toluene price assessments are based on robust and transparent market data that includes, but is not limited to, firm bids and offers, expressions of interest to trade and confirmed trades of toluene reported during the Market On Close process every day. This information is summarized in our daily newsletters and published in full on our real-time information service, Platts Petrochemical Alert.
Asia is a key market
Assessment window: Daily assessments FOB Korea and CFR China (CFR China L/C 0-30 days and CFR China L/C 90 days) and domestic China ex-tank are based on the latest information sourced from the market up to the close of the assessment window at 4:30 pm Singapore time (0830 GMT)
The domestic China assessment is inclusive of 17% value added tax while weekly assessments FOB Southeast Asia, CFR Southeast Asia, CFR India and CFR Taiwan are assessed up to the close of the assessment window at 4:30 pm Singapore time (0830 GMT) on Fridays. Weekly averages of daily assessments FOB Korea and CFR China (CFR China L/C 0-30 days and CFR China L/C 90 days) are published on Fridays.
Timing: Daily assessments FOB Korea evaluate cargoes for loading in second, third, fourth, fifth and sixth half-month laycans. Platts does not assess the prompt first-half laycan. Each half-month assessment laycan covers 15 or 16 days (if a 31-day month). All half-month laycans are rolled forward on the 1st and 16th day of each calendar month.
The daily FOB Korea marker averages the means of the third and fourth half-month assessment ranges. Daily assessments CFR China evaluate cargoes for delivery in third and fourth half-month laycans. The daily CFR China markers (CFR China L/C 0-30 days and CFR China L/C 90 days) averages the means of the third and fourth half-month ranges. Weekly assessments basis CFR Taiwan, CFR Southeast Asia and CFR India evaluate cargoes to be delivered 20-40 days forward from date of publication. Weekly assessments basis FOB Southeast Asia evaluate cargoes to be loaded 20-40 days forward from date of publication.
China Domestic: Parcels to be loaded up to 10 days forward from date of publication. Basis and locations: The FOB Korea marker takes into consideration cargoes loaded from ports such as Daesan, Ulsan and Yeosu. The CFR China (CFR China L/C 30 days and CFR China L/C 90 days) markers assess cargoes delivered to Chinese ports such as Dongguan, Jiangyin, Nanjing, Nansha, Ningbo, Shanghai, Zhangjiagang, Zhenjiang.
The CFR Taiwan marker includes cargoes delivered to Kaohsiung, Keelung and Mailiao while the FOB Southeast Asia marker and CFR Southeast Asia marker include cargoes from and delivered to Singapore, Malaysia (Pasir Gudang) and Indonesia (Merak).