New duty on EU p-wax imports supports semi-refined wax values

08 January 2014 17:57 Source:ICIS News

LONDON (ICIS)--Semi-refined paraffin wax (p-wax) values have been supported by the 2.2% duty on p-wax imports from outside the EU introduced on 1 January, sources said Wednesday.

Prices were assessed on Wednesday at €810-830/tonne CPT on the Poland-Belarus border, against expectations of a decrease over the holiday period.

One Polish semi-refined wax trader saw strong domestic buying interest but said buyers had been surprised at prices holding up between December and January.

It said: “Demand in Poland is quite high. Companies interested in purchasing. People are surprised by the price at the moment. People were expecting it to drop and of course there has been no drop.”

By Richard Welbirg