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Malaysia-based Titan buys up to 30,000 tons of naphtha at 2 year low price

06-Sep-13

Malaysia-based Titan has bought up to 30,000 tons of naphtha for arrival in H2-October at Pasir Gudang at a discount of nearly US$6/ton to Japan quotes on a cost-and-freight basis, the lowest price it paid in about two years, as per Reuters. Traders added that supplies remained ample and this could persist up to H1-of November, although some sellers were hoping the supply glut would clear out by October end.

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