07 February 2011 05:53 [Source: ICIS news]
SINGAPORE (ICIS)--China’s paraffin wax exports fell in December 2010 because of weak demand amid a traditional year-end lull and bad weather conditions, market players said on Monday.
The country’s paraffin wax exports decreased by around 11% to 40,274 tonnes in December last year, compared to 45,041 tonnes in November, official statistics from China Customs showed.
The figure was 2% lower compared to the 41,262 tonnes exported in December 2009, based on the China Customs data.
Market players told ICIS paraffin wax demand was weak as buyers were winding down their operations for the accounting close at the end of the year.
In addition, the transportation of goods to major ports in China had been hampered by heavy snowfall during the winter season, they said.
Meanwhile, China imported 1,027 tonnes of paraffin wax in December 2010, up from 706 tonnes in November, according to the data. The figure was slightly lower compared to the 1,288 tonnes imported in December 2009.
China remained an export-oriented country and contributed to over 70% of the global wax supply in 2010, according to traders.
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