S&P Global Platts has started using daily foreign exchange rates in its European polymer currency conversions, effective June 2, 2021.
Platts first proposed the change in a subscriber note on March 24: https://bit.ly/3vu0GRK
A decision note was published on April 23: https://bit.ly/3wEU978
The change discontinues the use of rolling monthly average foreign exchange data to convert Northwest Europe polymer contract price assessments for ABS, PE, PP, PS and PVC from Eur/mt to GBP/mt and UK PET contracts and spot price assessments from GBP/mt to Eur/mt, incorporating daily foreign exchange data in all applicable assessments.
The assessments impacted are:
Description Symbol Currency Page#
ABS GP/Nat FD UK CP Weekly AAQCQ00 GBP PC0240
ABS Average Color FD UK CP Weekly PHANL00 GBP PC0240
ABS Auto Black FD UK CP Weekly PHANP00 GBP PC0240
LDPE G-P FD UK CP Weekly PHALY00 GBP PC0240
LLDPE G-P FD UK CP Weekly PHAMD00 GBP PC0240
LLDPE CSF FD UK CP Weekly AAPFS00 GBP PC0240
HDPE Inj FD UK CP Weekly PHAMN00 GBP PC0240
HDPE B/Mldg FD UK CP Weekly PHAMI00 GBP PC0240
HDPE Film FD UK CP Weekly PHAVL00 GBP PC0240
HDPE HMW 2-5 FD UK CP Weekly AAVJV00 GBP PC0240
HDPE HMW 5-10 FD UK CP Weekly AAVPE00 GBP PC0240
PET FD UK Weekly AAXOC00 EUR PC0239
PET Bottle Grade FD UK Net CP Weekly AAVLG04 EUR PC0240
PET Bottle Grade FD UK CP Weekly AACVN00 EUR PC0240
PP Homo injection UK CP Weekly PHANC00 GBP PC0240
PP Copol UK CP Weekly PHANH00 GBP PC0240
PS G-P Net FD UK CP Weekly HPTSC00 GBP PC0276, PC0240
HIPS Net FD UK CP Weekly HPTSD00 GBP PC0276, PC0240
EPS FD UK CP Weekly AAVKP00 GBP PC0276. PC0240
PVC Susp FD UK CP Gross Weekly PHALT00 GBP PC0240
PVC Susp FD UK CP Net Weekly AAXCI00 GBP PC0240
All associated monthly averages are also impacted.
Platts foreign exchange data uses foreign exchange rates assessed daily at 4:30 pm London time on the date of publication.
The daily British pound to euro foreign exchange rate assessment is published under the following symbol: GBP.EUR BCADM00
Platts polymer assessments and the daily foreign exchange rates applicable to petrochemical assessment conversions are published on Platts Petrochemical Alert, in Polymerscan, on Platts Market Center, the petrochemical service on the Platts platform and in Platts Market Data.
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