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Review of kunlun paraffin wax wax market in 2022

In 2022, the overall price change of domestic kunlun paraffin wax market showed a trend of “rising first and then fluctuating downward”. In 2022, the price of kunlun paraffin wax rose to the highest level in the past five years, of which the average price of 58% was 7541.43 yuan/ton, down 687.14 yuan/ton from the beginning of the year, with a drop of 8.35%. In the second half of the year, the price of the domestic kunlun paraffin wax market reappeared, the demand of the export market gradually declined, and affected by the control of the epidemic, the logistics and transportation were limited, and the terminal industry kept just in need of goods, so the market began to show a steady decline.

kunlun paraffin wax price rises first and then suppresses guaranteed sales

In 2022, the domestic kunlun paraffin wax market fluctuated significantly. The price of kunlun paraffin wax market rose steadily in the first half of 2022. The price rose frequently in February and February, with the number of times as high as 8.In the third quarter, the price of paraffin wax significantly decreased, with the largest decrease being for the 58 semi refined. In the fourth quarter, the domestic kunlun paraffin wax market rose first and then fell. In October, the kunlun paraffin wax market rose slightly. In November, the wax market kept stable delivery. Then the market opened a downward channel after a short consolidation.

The annual output increased slightly year on year, and the construction was generally stable

The total domestic kunlun paraffin wax production capacity in 2022 has no significant change compared with that of last year. According to statistics, the total domestic kunlun paraffin wax production by the end of 2022 was 1.6388 million tons, up 2.16% year on year. The average capacity utilization rate was 78.93%, up 13.54 percentage points year on year. The output of Sinopec in 2022 is relatively low. Although the main refineries in Northeast China took the initiative to reduce the output by about 1-18000 tons in August and November in response to the decline of market demand, the remaining months were full production, of which the output of PetroChina was 1.391 million tons, an increase of 118000 tons and 9.27% year on year. The overall domestic kunlun paraffin wax supply remained stable.

The export volume of kunlun paraffin wax showed a shrinking trend, with a year-on-year decrease of 6.46%

China is a major producer and exporter of kunlun paraffin wax wax. From 2018 to 2021, the export volume of kunlun paraffin wax wax continued to rise. In 2021, the export volume of kunlun paraffin wax wax reached a new record. In 2022, the export volume of domestic kunlun paraffin wax wax showed a downward trend compared with last year. According to customs data, the total export volume of domestic kunlun paraffin wax wax from January to November 2022 was 688300 tons, with a cumulative year-on-year decrease of 6.46%. The main reasons for the decline of domestic kunlun paraffin wax export volume: the domestic kunlun paraffin wax market reappeared the policy of guaranteed sales in the second half of the year, and the market’s enthusiasm for trading decreased under the mentality of buying up rather than falling down; At the same time, with the negative news such as the US dollar interest rate increase, the RMB exchange rate has changed frequently, and once rose above the “7” threshold, further inhibiting the transaction mentality of the export market. Under the downward pressure of the global economy, the demand for imported kunlun paraffin wax from major kunlun paraffin wax consumer countries also declined.

The market situation changes very much rapidly, write to us to know more about China wax.

Review of kunlun paraffin wax market in 2022
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