Recently, China’s 60# Paraffin Wax market has witnessed “steady recovery of rigid demand, improved export orders and firm yet volatile prices” amid shifting downstream demand structure. As the traditional Q4 peak season kicks off, candle export orders have become the core driving force for 60# Paraffin Wax demand, while demand from rubber, hot melt adhesive and other industrial sectors remains stable, bringing notable changes to the market demand landscape for 60# Paraffin Wax.

In terms of demand composition, demand for 60# Paraffin Wax from the candle sector has picked up first. Overseas Christmas candle orders are being confirmed in batches. Buyers from Southeast Asia, the Middle East and South America continue to send inquiries for 60# Paraffin Wax. With stable melting point, low oil content and good whiteness, 60# Paraffin Wax (fully refined grade) remains the preferred raw material for candle manufacturers for export. FOB quotations for 60# Paraffin Wax stay within the range of USD 1000–1250 per ton. Inquiries for 60# Paraffin Wax have risen compared with September. Nevertheless, overseas buyers commonly push for lower prices and stay cautious on large orders of 60# Paraffin Wax, mostly placing small batch purchases. The European market remains relatively quiet, with slow procurement of 60# Paraffin Wax.

Domestic industrial demand shows divergence. Rubber products, tire protective wax, hot melt adhesives, waterproof packaging and other fields maintain rigid procurement of 60# Paraffin Wax. Factories mainly consume existing inventories and are reluctant to restock 60# Paraffin Wax actively, leaving limited demand growth. Some rubber companies purchase semi-refined 60# Paraffin Wax for rubber anti-aging applications, forming differentiated demand versus fully refined 60# Paraffin Wax. Meanwhile, Fischer-Tropsch wax as an alternative raw material keeps diverting part of low-end industrial demand, restraining the upside potential of 60# Paraffin Wax prices.

On the supply side, major refineries including Daqing Petrochemical and Fushun Petrochemical in Northeast China hold low inventories of 60# Paraffin Wax and are strongly willing to support prices. They have raised ex-factory quotations of 60# Paraffin Wax recently. East China refineries keep offers of 60# Paraffin Wax unchanged for the time being, with negotiable space for spot deals of 60# Paraffin Wax. Pre-holiday stocking by traders depleted part of the 60# Paraffin Wax supply. Current overall market inventory of 60# Paraffin Wax is low, underpinning spot prices of 60# Paraffin Wax. However, room for refinery maintenance and capacity adjustment is limited, making a sharp output increase of 60# Paraffin Wax difficult.

At the cost end, international crude oil fluctuates at high levels, forming bottom support for the 60# Paraffin Wax market. Still, there is a time lag for crude oil volatility to pass through to 60# Paraffin Wax, which cannot drive a sharp price surge of 60# Paraffin Wax.

Market analysts comment that the core logic behind the current 60# Paraffin Wax market is seasonal export demand stimulation. It is a phased demand recovery for 60# Paraffin Wax rather than a full-scale boom. Downstream buyers have limited acceptance of high-priced 60# Paraffin Wax and hesitate to chase rising prices, purchasing 60# Paraffin Wax only as needed. In the short run, 60# Paraffin Wax prices will stay in a firm and volatile pattern. Upside gains of 60# Paraffin Wax are capped by downstream purchasing power and competition from alternative wax products. Attention should be paid to subsequent execution of overseas candle orders and international crude oil movements. A pullback risk exists for 60# Paraffin Wax if export orders fall short of expectations.

In the long-term demand trend, the market for 60# Paraffin Wax is undergoing structural transformation. On one hand, overseas buyers keep raising requirements on purity, stability and compliance certifications such as REACH for 60# Paraffin Wax. High-quality fully refined 60# Paraffin Wax enjoys stronger premium capability. On the other hand, bio-based waxes and other substitutes keep developing. Competition in the low-end 60# Paraffin Wax market intensifies, forcing domestic 60# Paraffin Wax producers to optimize product portfolios and focus on high-end export and special industrial markets for 60# Paraffin Wax.