PARAFFIN WAX MARKET NEWS ON OCT 26TH, 2018
The 124th Canton Fair was hold successfully at the middle of Oct. The main wax suppliers got chances to communicate with buyers about potential orders. Most of the buyers came from South Asia, Middle East and Africa. There is regular purchasing requirement for these markets.
The price of paraffin wax is supposed to be stable at the first week of Nov. Jingmen refinery restarted the normal production from this week and the demand for Jingmen waxes still exceeded the supplying capacity. Also the price of Jingmen low melting point wax is at high level. On the other hand, the Jinan refinery is producing fully refined paraffin waxes 64/66, which would be a supplement for the shortage of Kunlun brand high melting point paraffin wax produced in the North of China. The 3 biggest refineries including Fushun, Dalian, Daqing come with stabilized production to ensure the enough supplying for 56/58 and 58/60 paraffin.
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