Expana proposes to launch Eastern European Glass Index

Expana is proposing to launch 5 monthly Expana Benchmark Prices (EBP) for the Eastern European glass markets, and is collecting feedback from market participants until Friday, 13th September 2024.  

If the industry supports this proposal, Expana suggests launching the monthly assessment on Monday, 30th September 2024.  

The proposed specifications for the assessments would be as below:  

The proposed assessments would reflect the transactable value at 16:00:00 London time.  

Container glass is widely used and highly sustainable, and the new assessments would bring transparency to a highly traded, but opaque market. The proposed assessments would compliment Expana’s existing container glass coverage and give Expana’s subscribers a comprehensive view of input costs for the European glass markets. 

The index assessments would use a basket of underlying prices, based on a typical blend of costs for glass manufacturing to provide a reference price for the manufacturing cost of glass containers. 

The assessments would be rounded to the nearest Euro cent using the rule that decimals of four (4) or less round down, and decimals of five (5) or above round up, e.g. €1.744 would be rounded to €1.74, and €1.755 would be rounded to €1.76. 

If you have any feedback or suggestions on this proposal, please send this to [email protected] by Friday, 13th September 2024 and clearly state which market note your comments relate to, and if comments are intended for publication by Expana.  

Expana will acknowledge receipt of all comments by email.