Europe September paraffin wax rises €80-100/t

03 September 2008 23:59  [Source: ICIS news]

LONDON (ICIS news)--The majority of European paraffin wax players confirmed increases of €80-100/tonne ($116-145/tonne) for September on severe market tightness, despite some buyer unrest at rising prices, players said on Wednesday.


Consequently, 52-54°C grade was at levels of €1,260-1,320/tonne FD (free delivered) NWE (northwest Europe), 56-58°C was at €1,320-1,380/tonne FD NWE and 60-62°C material at €1,330-1,420/tonne FD NWE.


One of the largest candle producers in Europe said it had seen increases of closer to €80/tonne because of a shortage of material and a stronger US dollar but confirmed the new price levels.


Despite the price reduction in crude oil, the lack of availability was allowing suppliers to announce more price hikes, the source said.


Some other consumers were adamant prices had rolled over in September, in line with falling crude oil prices.


One source reported that one seller had dropped its prices in September although this could not be confirmed.


Common uses for paraffin wax include candles, corrugated boxes, waxed papers, frozen food cartons and wrappers.


($1 = €0.69) 


For more on p-wax visit ICIS chemical intelligence
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By: Dan Horlock
44 20 8652 3214

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