SINGAPORE (ICIS)--Asia paraffin wax prices remain under downward pressure as the candle-manufacturing season for this year has largely ended.
Recent export prices of the semi-refined slabstock wax were around $1,090/tonne FOB (free on board) China while the full-refined grades fetched prices of around $1,110/tonne FOB China, ICIS data showed.
Supplies for November have mostly been sold with market participants awaiting fresh quotations for December lots.
December prices should be lower than November, a trader in Hong Kong said. Other traders and buyers also expect prices for December to ease as the year end lull is approaching.
A NE Asia producer of slackwax, the feedstock for paraffin wax, conceded that buyers continue to lobby for lower prices as paraffin wax prices were under downward pressure.
Paraffin wax is used for candles, coatings and lubrication.