16 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European paraffin wax market continues to face downward price pressure, largely because of market length, sources said on Wednesday.
While the is plenty of material on offer, demand is reasonably healthy, according to one buyer: “[The market is] stable even decreasing a little bit. There’s more than enough everywhere. Demand is stable.”
In relation to its order book, an east European producer said: “They have a lot of opportunities to purchase from Russian or overseas suppliers. We have very limited demand.”
For semi-refined wax, sources are divided in their assessments of the market on the Poland-Belarus border.
One trader said the market is balanced, while another described it as being tight: “Supply is short. There’s not enough product in the market at the moment but we are almost at the end of the high season so we expect that demand in the next two weeks will drop significantly.”
The market is in agreement that demand is healthy, but could fall as demand for candle manufacturing declines from its seasonal peak.
Spot paraffin wax is currently valued at €800-850/tonne ($1,081-1,149/tonne) CPT (carriage paid to) Poland/Belarus border.
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