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After returning from the Spring Festival holidays, the prices for paraffin wax in China have been increased by RMB 150-250/ton on February 21st and by RMB150/ton on 28th respectively.
Factors Influencing the Paraffin Wax Market in February focus on the following points:
Oil prices showed a volatile upward trend this month, with Brent crude fluctuating above $80 per barrel, providing cost support.
Historically, in the months of February to April, paraffin wax prices tend to rise, as downstream factories, such as candle manufacturers, increase their demand.
Refinery paraffin wax production remains stable, with no pressure on inventory.
Mainstream grades including fully refined 58/60, 56/58, and semi-refined 58/60 are stable in supply. For high melting point fully refined paraffin wax 64/66 and 66/68, the production is very limited. The demand is higher than supply.
King honor provides you with a high-quality wax products and will be the best companion of your business. Contact us now.
