Malaysia’s Titan Chemicals buys 25,000-30,000 end-May naphtha

12 April 2012 09:49  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s Titan Chemicals has bought 25,000-30,000 tonnes of full-range naphtha for delivery at the end of May at a premium of $10-15/tonne (€8-11/tonne) to CFR Japan quotes, several traders said on Thursday.

The company used a 30-day formula price based on CFR (cost and freight) Japan quotes to purchase the cargo, the traders said.

The seller is required to deliver the cargo into Pasir Gudang in Malaysia, where the firm operates a 285,000 tonne/year No 1 cracker and a 435,000 tonne/year No 2 cracker, the traders said.

Titan Chemicals declined to comment on the purchase when contacted .

The company last purchased a 30,000 tonne full-range naphtha cargo for mid-May arrival at a premium of $15/tonne to CFR Japan quotes on 5 April, according to traders.

($1 = €0.76)

By: Quintella Koh
+65 6780 4372

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