Titan Chemicals hikes operating rates at naphtha cracker to about 95%

06-Jul-12

Titan Chemicals has raised operating rates at its smaller of two naphtha crackers to about 95% capacity after reducing utilization rates last month on weak petrochemical margins, as per Reuters. Run rates have been hiked at the 260,000 tpa cracker since early July, while runs at its larger unit, a 407,000 tpa cracker have remained mostly steady, at about 95% of its capacity, The Malaysia-based major is seeking H2-August naphtha feedstock after having bought about 60,000 tons for H1-August arrival at prices ranging from a discount of US$2.50 to a premium of US$2/ton to Japan spot quotes on a cost-and-freight (C&F) basis.