02 December 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--December European paraffin wax (p-wax) contract prices have rolled over from the previous month, as weakening domestic demand was counteracted by fewer imports from China and the current stability of crude prices, sources said on Wednesday.
52-54C grade material was settled at €890-930/tonne ($1,348-1,409/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
Numerous sources added that European spot material was currently trading as much as €20-30/tonne lower than previous indications, due to the fall in demand following the end of the peak pre-Christmas season.
“December is effectively only a half month, so many consumers are taking less volume,” said one producer.
The producer added: “There are far fewer imports coming from
According to one distributor, players are also not willing to import material from
Several other sources agreed that prices would come down further in the first quarter of 2010, as sellers sought to boost flagging demand levels.
“Customers have already bought what they need for the high season,” explained one producer. “Now they are waiting for lower pricing.”
($1 = €0.66)
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