Ukrainian situation unlikely to impact p-wax market

05 March 2014 18:10 Source:ICIS News

LONDON (ICIS)--The political crisis in Ukraine is unlikely to have a major impact on the paraffin wax (p-wax) market, sources said on Wednesday.

Ukrainian plants producing high oil content slack wax from which p-waxes are refined are understood to have halted production, but export quantities are small and the country is not a major buyer of p-waxes.

A Russian trader said that it saw more impact on its base oils trade, and it had paused deliveries into the country because of the unpredictable political situation.

“The situation is very difficult and unpredictable," the trader said. "We don’t know this new government, what effect it will have in the market. That’s why we try to sell all our base oils to Lithuania or Latvia.”

By Richard Welbirg