General Consultation Period: 12/08/13 – 12/09/13
ICIS is implementing a process of rolling consultation on all of its pricing methodologies. The Styrene Consultation paper GMC07/13 is part of this formal process and covers all of the ICIS primary price points included in the styrene weekly publications.
The consultation asked both general questions about the suitability of the ICIS pricing methodology and questions addressing specific styrene market issues.
Styrene Methodology Consultation - Summary of responses
Following the recent announcement that ICIS would be launching a formal methodology consultation process, we have received a number of responses from key market players. To read the anonymised public responses please click on the links below.
ICIS Initial Decision
The responses do not provide sufficient feedback for ICIS to change its current methodology for deals-based reporting of styrene contract or spot markets in any of the geographical regions.
There was no support for the idea of removing the SE Asia assessment, or adding one for Chinese bonded tank cargoes.
There was some interest in splitting the US spot assessments into current and forward months, and this will be investigated further.
The issue of the Europe monthly contract FOB truck ARA assessment requires further examination.
ICIS will go ahead with removing the CIF Rotterdam spot assessment from the Europe report in November 2013.
To provide further comments or feedback on the ICIS styrene methodology, please contact:
Barbara Ortner: Barbara.Ortner@icis.com
Clive Ong: Clive.Ong@icis.com
Brian Balboa: Brian.Balboa@icis.com
Truong Mellor: Truong.Mellor@icis.com