PARAFFIN WAX MARKET NEWS ON FEB. 14TH, 2019
Before Chinese New year,the wax price was stable and the supply was normal,but the refineries will not have a plan to produce the wax during holiday.
After Chinese New Year holiday,some subsidiaries of Sinopec and PetroChina informed that the wax price has gone up around usd8-15/mt,like Jingmen,Shanghai,Daqing and so on.
Some insiders predicted that Fushun and Dalian may be follow up it in next weeks,now Dalian wax supply is very tightly and Fushun only can supply the general wax,like FR58 and FR64.
Regarding the wax marketing,due to the exchange rate is not stable between US dollar and RMB,meanwhile the crude oil price has not a big changed,some customers bought the paraffin wax as per their required.
Due to Daqing wax price has gone up,i think some customers will know the Chinese wax price really has an uptrend and maybe the high season will be come in next weeks.
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