World prices of paraffin wax have been mostly stable in 2011
at $1,500/tonne (€1,170/ton) FOB China Main Port for the benchmark solid wax with melt points at 58/60 degrees Celsius .Prices increased to around $1,650/ton FOB China in March 2011 as candle manufacturing traditionally peaks towards the end of the first quarter.Paraffin wax is more expensive than its substitutes such as palm wax, triple pressed stearic acid, tallow and soy wax.Palm wax, the most popular substitute to paraffin wax is being offered at below $1,300/ton FOB SE (southeast) Asia December 2011. Soy wax is also heard being used in wax blends in some industries.Sellers acknowledged that natural wax would never replace petroleum-based wax altogether.Waxes from natural sources are yellow and are incapable to hold colour and fragrance well, according to market participants. Some traders also said palm wax burns faster that it can only be a substitute for paraffin wax.Slack wax is a by-product of Group I base oils production. It undergoes a de-oiling and bleaching process to become paraffin wax.China’s paraffin wax capacity stands at around 1.5 m tones/year, accounting for around 70% of the total global wax product, according to market participants.China, a major exporter of paraffin wax, is expected to ship out a smaller volume of less than 500,000 tons this year for the solid fully refined paraffin wax, In 2010, the country exported 517,031 tons of the chemical, according to China Customs.The country itself may be using up some of its paraffin wax output to make candles, which are then exported, some traders said. Candle exports enjoy a tax refund in China.In India, candles are mainly used for lighting and for religious observances. But with better and more stable electricity network in the country, there is less use for candles during power blackouts, according to participants based in the country.The country procures from Iran about 90% of its wax import requirements, according to traders.According to traders, Iran had been selling semi-refined or slackwax at cheap prices. Wax prices were assessed at around $1,150/tonne CFR (cost and freight) India on 4 January.
Oil price versus paraffin price
Paraffin price fluctuation depends on oil world price since it is a petrochemical product and directly from oil and refineries . in summer time there is more demand comparing winter time and it also affects the price of this product . summer and winter is different in parts of world so we can have a normal market of paraffin wax during most time of the year .
As of February 2025, the paraffin price fluctuation
- North America: Approximately $1.23 per kilogram, a 1.6% decrease from the previous period.
- Europe: Around $1.52 per kilogram, down 1.3%.
- Africa: Priced at $2.02 per kilogram, remaining stable.
- Northeast Asia: About $0.66 per kilogram, a 1.5% decrease.
- Southeast Asia: Approximately $1.08 per kilogram, down 0.9%.
The term “wax” can refer to various substances, each with its own market dynamics. Here’s an overview of two primary types:
1. WAX Cryptocurrency (WAXP):
WAX (Worldwide Asset eXchange) is a blockchain platform design for virtual assets and NFTs. Its native token, WAXP, has experience notable price fluctuations:
- Current Price: As of February 22, 2025, WAXP is trading at approximately $0.03345 USD.
- Recent Performance: Over the past 24 hours, the price increases by 1.05%. In the last 7 days, it has by 5.55%, while over the past month, it has decreases by 16.91%.
- Historical Context: WAXP an all-time high of $2.77 USD on January 9, 2018, and an all-time low of $0.0159471 USD on December 30, 2019.
2. Paraffin Wax price fluctuation
Paraffin wax is a hydrocarbon mixture from petroleum, commonly use in candles, cosmetics, and various industrial applications. Its pricing is influence by factors such as crude oil prices, supply chain dynamics, and seasonal demand:
- Market Trends: In Q4 2024, the European paraffin wax market experience notable price volatility. Initially, prices declines due to eased freight charges and a surplus of paraffin wax. However, as the quarter progress, prices saw a modest increase, driven by anticipated festive season demand.
logistic issues effect on paraffin price
- Supply Chain Factors: Logistical challenges, such as port congestion in China, have led to higher inventory levels, affecting the supply and pricing of paraffin wax.
- Demand Influences: Key sectors like cosmetics and candle-making significantly impact paraffin wax demand. For instance, increases sales of cosmetic products, particularly in the Chinese market, have stimulate demand for paraffin wax.
These figures are sourced from Business Paraffin Wax Price fluctuation Index.
Please note that these prices are indicative and can fluctuate base on market conditions, supplier, and purchase volume.
For purchasing paraffin wax in Amsterdam, Netherlands, consider contacting local suppliers or distributors. While specific local pricing isn’t available in the provide sources, reaching out to regional suppliers will provide the most accurate and current pricing information.
