Market news on Oct 10 2015
After the National Day holiday, Chinese paraffin wax price is going up as expected before. Several refineries planed to stop producing for overhaul in October. The low melting point wax is still in tight supply. Though the stock has increased a little bit after holiday, the demand from candle manufacturers may contribute to it. Besides, affected by the whole economy situation, the low stream manufacturers are expected to enter the busy season in October this year.
Paraffin wax price is stable and it is expected to keep stable till end October. Though in busy season, influenced by the oil price, wax price is not going up obviously.
US paraffin wax price is stable at present.
Demand for importing source may increase since the biggest domestic refinery has suspended production and wax is in short supply.
The demand didn’t increase though candle industry has entered traditional busy season. So most traders are wait and see.
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