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Date: Jun 14, 2012
| Welcome to our website. It’s time to share with you the market news again. Let’s give some ideas briefly:
In Asia
Spot prices for solid paraffin wax fell during the week ended 13 June on the back of constantly deteriorating demand and weakened buying sentiment.
The gloomy global macroeconomic situation continues to weigh down on buying sentiment in the various import markets and the Chinese domestic market.
In addition, fluctuating crude futures have created a sense of uncertainty in the market, pushing buyers further to the sidelines as they wait for prices to lower.
In Europe
The debt crisis in Europe continues to impact the European buyers’ import sentiment strongly. Buyers were more interested in knowing price levels than purchasing waxes.
End-market demand remains poor and paraffin wax supply ample. The market is consistently described as being quiet. These factors, combined with the sustained losses upstream, are leading many to anticipate weaker paraffin wax prices in the medium term.
In US
US fully refined paraffin wax (p-wax) markets are seeing generally weak demand but prices are holding steady. P-wax producers and resellers in North America are holding prices at current levels while buyers continue to watch for downward adjustments.
Another reason for the persistently languid demand for paraffin wax is the availability of lower-priced alternative materials, such as soybean wax and palm wax which could be blended into paraffin wax to be made into candles.
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