S&P Global Platts will change its PTA CFR India assessment (CODE AAXIU04) frequency from weekly (Friday) to daily, following market feedbacks on price volatility and expectation of growing PTA imports into India, effective February 3, 2020.
The new daily PTA CFR India assessment will reflect the same spot trading specifications as the current weekly (Friday) PTA CFR India assessment -- the delivery of 1,000-3,000 mt on CFR India (Mumbai) basis, 15-30 days forward from the date of publication on LC 90 days payment basis, with minimum product purity of 95%.
The proposed daily assessments will take into consideration the latest information sourced from the market up to the close of the assessment window at 4:30pm Singapore time (0830 GMT).
The current weekly (Friday) PTA CFR India assessment is published on page PCA0179 and in Asian Petrochemical Scan.
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