普氏的专业分析师通过严格的培训后才能从事估价的工作
4. Platts is transparent in its approach to market coverage
普氏的估价方法是透明的
III. The assessment process 价格评估过程
Collecting market Information 搜集市场信息
• Platts accepts information into the assessment process from anyone in the market who is reliable and transparent
普氏只能接受公开而可靠的信息，坚持排除谣言
• Platts speaks with a wide range of industry participants
资讯: 大宗商品市场的 润滑剂
commodity markets have Four Requirements …
在信息方面大宗商品的市场有四种需要…
The Four Requirements of Markets 大宗商品的市场的四种需要
1. Impartial third-party information:
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所以普氏的估价反映 当天最后成交或者能成交的价格； 该交易须符合市场的标准 (e.g.,商品的规格等等)
• In addition to transactions, the highest bids and the lowest offers are also considered
除了交易价以外，普氏也参考当天的 最高询盘价及最低报盘价来进行估价
普氏在 实时信息平台中 发布报盘与询盘信息， 创造普氏与市场之间的信息 反馈循环
• • The process comes to an end at 4:30 PM every day
每天到下午4:30接受信息
The assessment reflects the price at which a standard transaction took place or could have taken place at the close of the day.
以现货价为结算的基础
Platts’ focus
普氏关注点
SPO T 现货
II. The Need for Third Party Price Assessments
市场需要第三方提供 独立公正的价格评估
Information: the lubricant of commodity markets
• Platts receives and seek information on bids, offers and transactions throughout the day via “e-Window,” Instant Messenger (IM), & phone
通过“电子交易信息窗口”, 即时通讯软件(IM) 及电话的 交流，普氏的分析师 每天搜集市场的 报盘,询盘及交 易信息
炼厂检修信息
原油等
国际燃料油 石油机构数据
Platts China Alert can now be seen on JYD’s information platform
从今天起市场参与者能上金银岛的信息平台 看普氏中文快讯
NEWS 新闻
CF
ASSESSMENTS 估价
R
D
ED AT
NT RE B
CAS
MOPS
HW TI
DUBAI/OMAN ne Ch nze e AB ina E KO R Iro l n O FOB Stee a re Chin FO B
Platts coverage is vertically integrated, comprehensive 普ห้องสมุดไป่ตู้的服务范围是 上下整合的，横向全面的
普氏中文快讯面向中国市场，提供国际市场基准价格 以及国内市场价格评估 • Assessments 估价 • Fuel oil 燃料油 • Market commentaries 市场评论
• LPG 液化石油气 • Gasoil 柴油 • Gasoline 汽油 • Crude oil, etc. • News 新闻 • Plant turnarounds • Fixtures 船期表 • Statistics 统计数据
为了解决纠纷，需要中立的第三方资讯
2. The need for a common Benchmark:
为了简化交易的过程，提高市场运作效率 需要基准价格
3. The need for Market Expertise:
为了越来越复杂的市场行情 需要专业人士提供可信赖的信息
4. The need for Market Transparency:
Platts is part of the McGraw-Hill Group of Companies 普氏是 麦格劳-希尔 集团旗下子公司
platt s
普氏 标普指数 和排名
Platts Global Positioning 普氏全球主要代表处
• New York 纽约总部 • London 伦敦 • Houston 休斯顿 • Washington 华盛顿 • Moscow 莫斯科 • Dubai 迪拜 • Singapore 新加坡 (1986) • Hong Kong 香港 • Beijing 北京 (2005) • Shanghai 上海 (2007) • Guangzhou 广州 (2004) • Tokyo 东京
为了减低价格波幅带来的风险 需要确保市场的透明度
The Price Discovery process meets the Four Needs
价格发现机制（即估价）满足 商品市场的上述四项需要
1. Platts does not engage in trading, maintaining neutrality
I. Introduction to Platts 普氏简介
What is Platts 关于普氏资讯
• Platts is the biggest, most trusted source of global commodity market information in the world. • 普氏是世界上最大, 最可信赖的全球大宗商品市场信息来源
Platts focus: the spot market 普氏关注现货市场，因为它决定交易量更大的长期合约市场
• Term contracts are priced on Platts assessments
长期合约定价以普氏现货估价为基准
TER M 长约
• Futures settlement prices are often linked to spot market 纸货 (期货以及掉期) 结算价往往
IV. Platts China Alert 普氏中文快讯
China Alert 普氏中文快讯
• Platts’ proprietary Chinese language real-time oil market information service
普氏中文快讯提供实时的中文石油市场资讯服务
• Global benchmark information into China, plus domestic price assessments
Coal 煤炭 Oil & Gas 石油，天然气
Petrochemicals 石化
Electric Power 电力
Steel, Iron Ore 钢铁, 铁矿石
Platts was “born” in 1909
普氏创立于1909年
Platts was established in 1909. 普氏于1909年成立，从事大宗商品行业的信息服 务已经有一百年的历史。
信息的来源较广泛:
Producers 生产商 Brokers 经纪商 Shippers 船运商 Exchanges 交易所 Traders 贸易商 Distributors 分销商 Banks 银行 Governments 政府
Feedback Loop 信息反馈
• Bids and offers are posted in real-time on Platts information services, creating an information feedback loop between Platts and the market