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Titan buys upto 30,000 tons of naphtha at two year lows

10-Sep-13

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 traders in Reuters. Supplies remained ample, and are expected to persist even up to H1-November. However, some sellers anticipate the supply glut would clear out by October end.

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