July 25, 2011
Platts Expands its Offering of Benchmark Price References for Plastics Polymers
HOUSTON, July 25, 2011 /PRNewswire/ -- Platts, a leading global provider of energy, petrochemicals and metals information, today expanded its suite of petrochemical price references to include weekly assessments of five polymers imported into Brazil and key to the manufacturing of film and plastics in Latin America.
"We believe these new assessments will bring more continuity to the global polymer market, particularly given the increased trade flow between Asia and Latin America," said Kevin Allen, Platts managing editor of petrochemicals, Americas. "The aim is to provide a set of benchmarks for polymers imported into Latin America, which should meet the pricing information not only of buyers in the region, but also producers and traders in North America, Europe and Asia."
The assessments reflect the open-market, spot value of the polymers on a cost-and-freight (CFR) basis delivered into key ports in Brazil, a rapidly growing player in the global petrochemical market.
The new assessments:
- Platts High Density Polyethylene (HDPE) CFR Brazil - polymers used primarily in packaging and construction
- Platts Low Density Polyethylene (LDPE) CFR Brazil - polymers used in the production of plastic bags, film, and packaging
- Platts Linear Low Density Polyethylene (LLDPE) CFR Brazil - polymers used primarily in the production of film, packaging and bags
- Platts Polypropylene (PP) CFR Brazil - polymers used in the production of food packaging, durable goods, automotive industries, textiles, and reusable containers
- Platts Polyvinyl Chloride (PVC) CFR Brazil - polymers used primarily in pipe and siding construction
Quoted in U.S. dollars per metric ton, the new references are based on 250- to 500-metric-ton cargoes for near-term delivery. The assessments will be published on a weekly basis, every Wednesday via real-time information service Platts Petrochemical Alert and the Platts Polymerscan newsletter as well as other online and print publications containing news market commentary and price information.
The assessments reflect market value at the close of the physical market trading day at 4:15 p.m. local time Brazil (2.15 p.m. Eastern Standard Time) and are based on all-day market monitoring and data collection of transactions, bids, offers and other information from market participants in the spot physical markets.
With this launch, Platts now provides nearly two dozen polymer assessments in Latin America, which are aimed at offering a more transparent view of price discovery in the physical markets for participants in the areas of trade, distribution, production and consumption and other interested parties.
The price assessment methodology used by Platts in polymers has been developed in consultation with a cross section of key industry players and policymakers, draws upon Platts' century of experience in benchmark price reporting in the energy markets and is underpinned by robust quality guidelines. For information on Platts' price assessment methodology, click here.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with more than 700 employees in more than a dozen offices worldwide. Additional information is available at http://www.platts.com.
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