Europe domestic paraffin wax pricing remains unclear for June

05 June 2013 16:17  [Source: ICIS news]

LONDON (ICIS)--The Domestic paraffin wax price direction for June is unclear as both stable and lower values are talked, market feedback showed on Wednesday.

Certain sellers talk of unchanged values heading into June, supported by balanced market conditions.

“I do not see any need today to reduce prices,” said a west European distributor.

By contrast, some buyers said they had already seen decreases because of an oversupplied market and low demand.

Upstream crude oil and vacuum gasoil prices continue to fluctuate, providing no clear direction.

Further clarity is expected in the coming weeks, as more June agreements are reached.

European domestic paraffin wax prices declined heading into May, because of various factors including low demand.

By: Carl Roache
+44 20 8652 3214

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