ICIS, a leading source of pricing information and analysis for over 180 commodities worldwide, has started publishing key benchmark quotes in the Market Updates and ICIS Live sections of the ICIS Dashboard, as part of our enhancement programme under the Price Alerts Service (PAS) to progressively introduce the timely delivery of end-of-day or end-of-week price assessments.
Subscribers can access key benchmark assessments for markets tied to their subscription, as soon as they go live. Assessments will be published on the ICIS Dashboard between 6-8pm (Singapore time) on a daily or weekly basis, after being generated and crosschecked against our methodology and editorial standards. The number of assessments will be added progressively on Dashboard.
Key benchmarks will be indicated as such and will be distinguished from the usual market updates (such as deals and bids/offers) on PAS.
“We find the price alerts very useful for our decisions. This service provides interactive prices, enabling us to conclude deals easier and faster. Buyers always mull over and delay sharing feedback with us and often extend the validity of our offers by saying that prices are only published on Saturday. Now, we can have discussions more effectively,” says a trader from the base oils and speciality product division of IRPC.
Enhancements have been made to PAS in recognition of the rapid pace and uncertain direction of global chemical markets, which continues to impact decision-making and negotiations for ICIS customers. Timely delivery of key benchmark quotes is intended to improve price transparency, to give subscribers confidence when settling contracts and participating in volatile markets.
The programme will be rolled out for Asia first, offering assessments for subscribers to the following reports – ethylene, propylene, polymers, MEG, styrene, butadiene, PTA, PX, methanol, benzene, toluene, phenol, acetone, PVC, caustic soda and plasticizers.
As well as receiving accurate spot and contract assessments earlier, these subscribers can gain access to expert analysis of the key commodities and regions they follow. This includes commentary on supply/demand and price trends, up/downstream markets, as well as plant and production news.
These weekly reports provide essential insight to the ever-changing chemicals landscape. In doing so, ICIS helps its customers adapt to changing market conditions, mitigate risk in a volatile climate and seize opportunities as they arise.
As volatility continues to grip global chemical markets, ICIS price reports play an increasingly important role, giving industry participants the information they need to conduct evidence-based negotiations and settle prices with confidence. ICIS price reports enable you to:
ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. Some 350 of ICIS’s staff are journalists engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.
ICIS is a division of Reed Business Information, part of RELX Group plc.
About Reed Business Information
Reed Business Information provides information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
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RELX Group is a world‐leading provider of information solutions for professional customers across industries. The group employs about 28,500 people of whom half are in North America. RELX PLC, the London Stock Exchange listed shareholding vehicle, holds 52.9% of the shares in RELX Group. RELX NV, the Amsterdam Stock Exchange listed shareholding vehicle, holds 47.1% of the shares in RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. The total market capitalisation is approximately €28.6bn/£21bn.