ICIS has a network of locally based reporters providing coverage of regional Paraffin wax markets.
Whichever regional markets you need to track, our independent price assessments and market coverage will keep you fully up-to-date so you can always negotiate with confidence.
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Paraffin Wax Europe Transcript
The weekly ICIS paraffin wax report is the key industry report for this market. The ICIS report is used as a benchmark for the industry.
A lot of candle makers who buy paraffin wax, for instance, will negotiate a contract with their suppliers making reference to the ICIS published price.
The report itself is split into two sections.
The first section covers domestic prices for the different waxes most commonly used in Europe. The second section deals with spot trade and this tends to be for wax originating in China or Russia.
There is also a reference price provided for semi-refined paraffin wax, which is commonly used in parts of central and eastern Europe.
Detailed analysis is provided, commentary on upstream and downstream developments, as well as cross-regional connections, courtesy of ICIS’s global reporting team.
ICIS gathers the information in the report by speaking to buyers, sellers, producers, distributors and traders.
Anyone who is buying or selling paraffin wax really has to read the ICIS report to understand the challenges and complexities of this market.
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The outlook for paraffin wax remains steady amid unchanged market fundamentals. Demand is limited to usual usage in the candle-making and water-proofing industries. These markets are seeing steady demand for the next quarter because there is no seasonal pick-up. An uptick in demand is expected in the third quarter of the year.
Demand typically improves significantly in the third quarter, when candle-makers start buying paraffin wax cargoes to prepare for the Christmas holidays. Prices are expected increase during that quarter.
With base oil production steady in China, the largest exporter of paraffin wax, no supply shortages are expected this quarter. The market looks set for healthy supply and demand next quarter.
Updated to mid-February 2013
ICIS produces the only paraffin wax price report in the market. It reports weekly on prices as they go up and down.
The ICIS report is used as a benchmark for the industry. Candle-makers that buy paraffin wax, for instance, will negotiate a contract with their suppliers and they will make reference to the ICIS published price in their contract.
The report itself is split into two sections. The first covers domestic prices for the three different melt points of wax that are most commonly used. The second section deals with imports to Europe, typically from Russia, China and occasionally from the US.
Anyone who is buying or selling paraffin wax needs to read the ICIS report to understand the challenges and complexities of the market.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Paraffin wax. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Paraffin wax, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.