Background
ICIS is implementing a process of rolling consultation on all of its pricing methodologies. Consultation paper GMC05/13 is part of this formal process and covers all of the ICIS primary price points included in the Benzene weekly publications.
The consultation asked both general questions about the suitability of the ICIS pricing methodology and questions addressing specific benzene market issues.
To find out more about what our customers have answered, download the
- Benzene Consultation Response 1
- Benzene Consultation Response 2
- Benzene Consultation Response 3
- Benzene Consultation Response 4
ICIS received in total seven responses.
This summary takes into account all responses, both confidential and public.
Of the seven respondents answering the question about the reliability of the current ICIS benzene methodology, all of them said that it provides a reliable measure of market value.
The majority of respondents did not require the addition of a Russian assessment.
There were mixed views on the addition of intermonth roll or swap deals, or inventory information. One respondent stipulated that any inventory information should be from CEFIC.
A minority of respondents gave answers on the questions about the US Gulf report, but there was some interest in the proposed additions.
There were some individual requests for particular extra coverage in the reports.
ICIS Decision
The responses do not provide sufficient feedback for ICIS to change its current methodology for deals-based reporting of benzene contract or spot markets in any of the geographical regions.
ICIS will continue to look at adding new information in the market commentary of the reports.
The Benzene (US Gulf) report has added a list of confirmed deals to the weekly report.
Some respondents requested added clarification in the Methodology document, and these changes will be made by the end of March 2014.
To provide further comments or feedback on the ICIS benzene methodology, please contact :
Barbara Ortner: Barbara.Ortner@icis.com
Truong Mellor: Truong.Mellor@icis.com
Sheauling Ong: Sheauling.Ong@icis.com
Brian Balboa: Brian.Balboa@icis.com
