China paraffin wax prices rise on tight supply
Jeslyn Lerh
08-Mar-2017
SINGAPORE (ICIS)–Chinese paraffin wax prices are firming this week because of tight supply, which may last until May, market sources said on Wednesday.
Turnarounds are underway at major Chinese wax refineries in March and early June, which may limit material availability in the near term.
Sellers placed workable levels above $1,200/tonne FOB (free on board) China, but no deals were located at such prices.
Meanwhile, buyers were unwilling to accept the steady increases in offers amid slow seasonal demand.
On 1 March, solid paraffin wax (fully refined) spot prices were last assessed at $1,070-1,150/tonne FOB (free on board) CMP (China Main Port), according to ICIS data.
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