20 March 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European domestic paraffin wax price outlook is unclear, with early indications for April mixed, market sources said on Wednesday.
Attention is starting to turn towards April domestic pricing and early indications from participants lack consistency.
While some suggest low demand could see a price reduction, certain others say stable prices had already been agreed.
Several sources, both buyers and sellers, talked about the low price of palm wax, a possible alternative to paraffin wax for certain applications.
This was seen as a bearish factor for the paraffin wax market going forward and one that was already impacting paraffin wax sales volumes.
“If people want to produce a candle and they can use palm, they will do it,” said a west European distributor.
Further clarity on domestic prices is expected in the coming weeks as more April discussions get under way.
Domestic 52-54C melt point wax was assessed unchanged this week at €1,090-1,130/tonne ($1,397-1,449/tonne) FD (free delivered) NWE (northwest Europe), by ICIS.
($1 = €0.78)
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