EUROPE - Dissatisfaction with benchmark price provider Platts was mounting last week after the reporter failed to enter a valid bid for jet barges in its market-on- close (MOC) window, less than a week after entering an incorrect cargo bid (JFI Oct.25,p4). Swiss trader Vitol says it entered a bid $1 per ton higher than appeared on both Oct. 28 and 29 but the Platts reporter failed to action the command in the window. "They simply cannot administer the information to market," said the trader involved. Platts did not take the bids into account in its price assessments, despite later agreeing they were in line with their MOC methodology. Barge liquidity is booming as traders rush to resupply France.
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