Malaysia’s Lotte Chemical Titan cancels toluene sell tender for April

08 March 2013 07:32  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s Lotte Chemical Titan withdrew its tender to sell a 2,000-tonne spot toluene cargo for early-April loading, traders said on Friday.

The cargo was offered on a FOB (free on board) SE (southeast) Asia basis, they said.

The tender was opened earlier in the week, they added.

The bid levels received were lower than $1,200/tonne (€912/tonne) FOB SE Asia that were unattractive to be met by Titan, traders said.

On Friday mid-day, spot prices were assessed as $1,185-1,190/tonne FOB Korea for April cargoes, according to ICIS.

“They may reissue the tender next week,” a Singapore-based trader said.

Author: Ong Sheau Ling

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