13 February 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Semi-refined paraffin wax prices on the Poland/Belarus border have increased €15/tonne ($20/tonne) this week, but there is a lack of consensus as to what has prompted the rise, market sources said on Wednesday.
The absolute values talked by the market show a rise in semi-refined paraffin wax prices this week.
Certain traders attribute this to healthy demand, supported by reduced supply from eastern Europe.
An eastern European producer confirmed this week that it is operating its paraffin wax units at around 60-70%, because of cuts at its related base oil plants.
By contrast, other traders talked of slow demand as winter weather conditions impact the grave candle sector in Poland.
“It is extremely quiet,” said the trader. “But there is not much available.”
One trader said fluctuating exchange rates may have also supported the slight price rise seen.
Semi-refined paraffin wax prices were assessed up €15/tonne this week to €825-865/tonne CPT (carriage paid to) Poland/Belarus border, by ICIS.
($1 = €0.74)
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