Oversupply pushes down semi-refined paraffin wax prices

19 February 2014 19:28 Source:ICIS News

LONDON (ICIS)--Semi-refined paraffin wax prices on the Polish/Belorussian border have fallen as product supplied exceeds demand, sources said on Wednesday.

The demand for semi-refined paraffin waxes has been weak for several weeks, while supply has been strong. Despite speculation in the market about outages at one Russian producer, availability was supported by vessels from western Europe arriving in Poland last month.

“Demand for semi-refined is not OK, and the market is oversupplied,” said a Russian producer.

Semi-refined paraffin wax was assessed by ICIS in the range of €760-810/tonne CPT (carriage paid to) Poland/Belarus border, down €20/tonne at the low and €10/tonne at the high.

By Richard Welbirg