09 July 2008 23:59 [Source: ICIS news]
LONDON (ICIS news)--European paraffin wax prices for July have firmed approximately €80-100/tonne ($125-156/tonne) from June on record crude values and tight supply, producers, consumers and traders said on Wednesday.
“We have seen prices firm by €80-100/tonne,” a producer confirmed. “We expected to see the same in August,” he added.
“Part of the push is crude oil, but ?xml:namespace>
July domestic prices for 52-54C melt point grade were valued at €1,080-1,140/tonne FD (free delivered) NWE (northwest
Consumers confirmed that the market saw hefty gains in July because of crude and lack of availability.
“€80/tonne is the number and I am afraid another €100/tonne will come in August,” said one large consumer adding that "it was full-steam on demand in a tight market".
Despite the notable lack of spot business in the European p-wax market, a spot parcel of Asian material was heard on offer ex-tank, out of either
A 5,000-6,000 tonne spot parcel was heard arriving from
Common uses for p-wax include corrugated boxes, waxed papers, frozen food cartons and wrappers.
($1 = €0.64)
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