01 December 2010 17:12 [Source: ICIS news]
LONDON (ICIS)--The European paraffin wax market could see low prices on some grades in December on the back of a slowdown in seasonal demand, market participants said on Wednesday.
Semi-refined 52-54C melt-point wax was widely available and currently being offered at prices €30-50/tonne ($39-65/tonne) lower than in November, market sources said.
According to the latest available ICIS data, prices of 52-54C melt-point wax were at €1,100-1,150/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Buyers expected prices to fall in December but sellers continued to offer fully refined product at prices unchanged from November.
Sellers said that demand had declined in line with seasonal expectations, but that no surplus of fully refined paraffin wax had developed in the market.
Paraffin waxes are widely used for candle making and in the packaging industry as wax coatings for paper, film and foil substrates including corrugated board, cups and container. Waxes are marketed in either liquid or solid state.
($1 = €0.77)
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