22 May 2013 16:29 [Source: ICIS news]
LONDON (ICIS)--The likely direction of European domestic paraffin wax prices in June is unclear, as both rollovers and reductions are possible, market sources said on Wednesday.
Mixed opinions have emerged amid fluctuating feedstock costs and uncertain demand.
Certain producers will target stable prices in June, amid what they see as balanced market conditions.
By contrast, a buyer said prices could ease slightly in June because of various factors including low seasonal offtake and stiff competition from alternative products like palm wax.
Further clarity is expected in the coming weeks as negotiations gather pace.
Fully-refined paraffin wax offtake is described as steady or weakening, depending on the source and the downstream sector.
While it is the low season for candle offtake, other sectors, like pharmaceuticals remain steady.European domestic paraffin wax prices declined heading into May, because of various factors including low demand.
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