PARAFFIN WAX MARKET NEWS ON Feb 22TH, 2019
Most of Chinese offices restarted to work from the holiday within this week. Some refineries under Sinopec Group including Jingmen, Gaoqiao, Jinan and Taizhou announced the price increase generally for the fully/semi refined paraffin wax. It’s probable the Petrochina Group including Daqing, Dalian and Fushun will also adjust the price accordingly.
A large quantity of waxes which were ordered during the CNY holiday are being shipped this week. There is a potential demand for commonly used waxes FR 56/58 in the market. Fushun refinery will supply about 1200mts FR 56/58 which might be sold out very soon. On the other hand, the supplying of waxes in carton produced by Dalian refinery is in shortage. Especially the is a lack of FR 58/60 in the market. The supplying for FR 58/60 and SR 58/60 from Daqing refinery is normal .
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