“We moved up our June prices into the
“Fully refined wax prices are definitely higher,” another source said.
Spot prices for fully refined liquid p-wax of 125-
Fully refined liquid wax of
There were no increases or price changes for slackwax.
P-wax spot prices were stable for almost a year, as shown in the ICIS chart below.
Market participants said that long-term stability in pwax prices is common, but shifts in upstream base oil tiers are presently offering prospects for some changes in this aspect.
In early May, ExxonMobil, the largest
Other wax producers followed with announcements at the 3 cents/lb level at various effective dates that stretched into early June.
Higher prices for fully refined p-wax are based upon wide implementation of the increases and underpinned by tightening inventories caused by maintenance downtime and other production factors.
Among other factors affecting wax supply, tighter inventories in upstream Group I heavy base stock output caused by a gradual shift towards using more Group II base oils is having an effect on the p-wax market, assisting the price boost.
Waxes are part of the by-product stream in Group I base oil production but do not arise from Group II production because of the different technology used in making Group II and higher base stocks.
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