PARAFFIN WAX MARKET NEWS ON DEC. 5TH, 2018
In China, the subsidiaries of Sinopec and PetroChina has the ablity to produce the paraffin waxes with China GB standard. They has played very imported role in the world wax field and they have great influence of the world demand and supply especially when there is any move in the price and supply.
This week, the several subsidiaries of the two groups have announced the new policy of wax price-reserving, which to some extent, is the sign of price dropping. So some good price of certain refineries has come out. It is a move for them to decrease the stock and stimulate the market demand.
Under the policy, the demand has flooded into the market and for example, we HCIWAX has collected over 1000mts of stock with Shanghai origin at very good price and within 3 days, most of the volume has been consumed right away.
Yes, as the year end, some of the demand has come out and under the support of good price, they have made the purchasing. At this time being, most of the Chinese domestic candle makers are sourcing while for the oversea market, especially the European market, the new year is coming and they have prepared some in advance and now they only purchase based on demand.
HCIWAX has globally approached wax sources, including, paraffin wax, slack wax, micro-crystalline wax , white oil, petroleum jelly, ect. Our over 20 years experience will assist you the right choice of waxes.
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