Europe candle grade paraffin wax prices slide on supply/demand

11 July 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--European candle grade 56-58C melt point paraffin wax prices have fallen €20/tonne ($24/tonne) this week, because of good availability and low demand, market sources said on Wednesday.

The paraffin wax market is quiet, compounded by the onset of the European holiday season. 

Ample supply amid slow demand has prompted the price decline seen.

In addition, the declines in upstream vacuum gasoil (VGO) and crude oil during the second quarter have supported the latest paraffin wax price reductions.

A west European distributor confirms cutting its fully refined wax prices by €20/tonne, bringing its candle grade 56-58C wax to €1,200/tonne ex-tank Rotterdam.

“Demand is pretty slow and it is not only because of the holiday period. In general, the market is slow,” said the distributor.

“It seems that availability is quite good as well.”

A candle grade 56-58C wax buyer has been offered volumes at €1,240/tonne FD (free delivered) northwest Europe.

Candle grade 56-58C melt point paraffin wax prices were assessed down €20/tonne to €1,230-1,265/tonne FD northwest Europe, by ICIS.

($1 = €0.82)

By: Carl Roache
+44 20 8652 3214

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