Eastern Europe semi-refined P-wax softens on fundamentals

30 July 2014 17:11 Source:ICIS News

LONDON (ICIS)--Prices in the semi-refined paraffin wax market on the Poland-Belarus border have eased because of weak market fundamentals, sources said on Wednesday.

The market remains oversupplied and demand, which was already low, has decreased further because of holidays.

As well as the low offtake, supply levels are being maintained by high Group I base oil production, of which paraffin wax is a by product.

Prices have been assessed at €740-800/tonne CPT (carriage paid to) Poland-Belarus border, down €10-20/tonne.

By Ross Yeo