In June 2023, China’s paraffin wax market prices continued to rise, but the increase slowed down from the beginning of the year and the transaction volume decreased. The main factors affecting the market structure include oil price fluctuations, seasonal factors leading to weak downstream demand, and an increase in the supply of alternative products.
Despite a strong start to the year, paraffin prices have taken traction and continued to rise, but traders are becoming increasingly cautious as margins compress. The market outlook for the coming months appears stable, with some factors supporting prices and others limiting potential gains.
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