Semi-refined p-wax market expects price uptick in near future

12 March 2014 17:45 Source:ICIS News

LONDON (ICIS)--Semi-refined paraffin wax (p-wax) prices were stable this week, but sources said on Wednesday they expect prices to rise slightly before the end of March.

There is currently good availability of product in railcars on the Polish-Belorussian border, but suppliers have held prices steady in the expectation of more favourable conditions in the next few weeks, as they can keep product in sidings for up to four weeks without incurring additional cost.

On the supply side, one trader said delays are expected in the supply of semi-refined p-wax from Russian refineries; on the demand side, the Polish grave candle market will improve with better weather and the approach to Easter.

A trader said: “[Customers] are seeing the market is improving. It’s improving because of the weather. Because March and April everyone is going outside to clean the graves and keep them in order. And Easter is coming which is another factor.”

By Richard Welbirg