For the Quarter Ending September 2025
North America
• In the USA, the Paraffin Wax Price Index rose 1.6% quarter-over-quarter due to freight and supply constraints.
• The average Paraffin Wax price for the quarter was approximately USD 1352.33/MT, based on CFR-Houston deliveries.
• Paraffin Wax Spot Price remained range-bound, inventory limited, while freight disruptions elevated landed costs for importers.
• Paraffin Wax Price Forecast suggests mild volatility as seasonal buying offsets softer global export offers.
• Paraffin Wax Production Cost Trend softened after crude oil dip, lowering feedstock pressures for Asian exporters.
• Paraffin Wax Demand Outlook remains cautious with downstream sectors subdued, limiting aggressive buying despite seasonal procurement.
• Paraffin Wax Price Index shows modest quarterly gain amid tight availability, port congestion affecting allocations.
• Participants report steady refinery operations, substitution risk from synthetic wax constrains upside for imported wax prices.
Why did the price of Paraffin Wax change in September 2025 in North America?
• Increased Chinese export availability eased supply, reducing immediate upward pressure despite seasonal pre-holiday buying activity.
• Elevated freight costs and port congestion intermittently raised landed costs, supporting occasional prompt-market firmness in September.
• Muted downstream demand and inventory draws limited aggressive purchases, allowing import offers to pressure prices downward.
APAC
• In South Korea, the Paraffin Wax Price Index rose by 0.64% quarter-over-quarter, due to port congestion.
• The average Paraffin Wax price for the quarter was approximately USD 1203.67/MT, reflecting balanced supply conditions.
• Paraffin Wax Spot Price firmed mid-September as holiday off-take and candle export orders increased demand.
• Paraffin Wax Price Forecast anticipates modest movement amid easing freight and fluctuating feedstock cost pressures.
• Paraffin Wax Production Cost Trend rose with crude-linked inputs then eased as refinery outputs stabilized.
• Paraffin Wax Demand Outlook remains steady as candle and packaging sectors maintain consistent, subdued procurement.
• Paraffin Wax Price Index showed limited volatility because inventories and diversified sourcing mitigated congestion impacts.
• Inventory positions remained adequate while easing intra-Asia freight lowered landed cost pressure, restraining price upside.
Why did the price of Paraffin Wax change in September 2025 in APAC?
• Logistical relief reduced port congestion leading to improved vessel turnaround and restored import supply availability.
• Eased freight and steady refinery outputs lowered landed costs, translating into downward pressure on imports.
• Subdued domestic demand allowed buyers to defer purchases, temporarily weakening short-term upward price momentum further.
Europe
• In Germany, the Paraffin Wax Price Index fell by 0.64% quarter-over-quarter, reflecting improved import availability.
• The average Paraffin Wax price for the quarter was approximately USD 1717.00/MT, reflecting stable quarterly market conditions.
• Paraffin Wax Spot Price remained subdued amid balanced inventories and steadier freight, limiting upward valuation.
• Paraffin Wax Price Forecast indicates volatility ahead as import flows and refinery maintenance influence supplies.
• Paraffin Wax Production Cost Trend reflected increases from freight and tariffs despite softer crude oil.
• Paraffin Wax Demand Outlook remains steady, supported by candles, packaging and cosmetics, with cautious procurement.
• Inventories tightened while export demand fluctuated, and select refineries completed maintenance, stabilizing the Price Index.
• Shipping constraints and potential GRIs prompted expedited buying earlier, sustaining procurement and regional market balances.
Why did the price of Paraffin Wax change in September 2025 in Europe?
• Improved import availability and resolved refinery disruptions increased supply, exerting downward pressure on regional prices.
• Weaker crude and softer freight eased costs, but import tariffs and charges constrained price reductions.
• Blank sailings and cautious buyer procurement reduced available imports, prompting buying and supporting spot stability.
For the Quarter Ending June 2025
North America
• The Paraffin Wax Spot Price in North America exhibited a mixed pattern in Q2 2025, initially stable in April before rising sharply in June due to import constraints and later softening toward the end of the quarter.
• Limited availability of Chinese-origin material during early Q2, coupled with port congestion and persistent freight rate inflation, supported the bullish price trajectory through May and early June.
• The announcement of a temporary 90-day U.S.–China tariff relief policy in mid-May triggered a surge in freight bookings, further tightening shipping capacity and pushing up logistics costs.
• Despite the easing of some tariffs, elevated freight costs and ongoing logistical disruptions, particularly at West Coast ports like Los Angeles and Long Beach, sustained cost-side pressure.
• On the demand side, purchasing activity remained steady but cautious, with seasonal restocking for year-end retail driving activity in June, especially in candles, cosmetics, and packaging sectors.
• Sustainability trends and environmental concerns continued to influence buyer behaviours, with a growing preference for alternatives such as soy and beeswax, gradually reshaping downstream dynamics.
Why did the price of Paraffin Wax change in July 2025 in the U.S.?
• In July 2025, Paraffin Wax prices in the U.S. began to decline, marking a reversal from the Q2 upward trend.
• This shift was driven by a renewed influx of Chinese-origin shipments, enabled by the ongoing U.S.–China tariff relief, which redirected export volumes back to the American market.
• Although geopolitical uncertainty persists—with the tariff truce set to expire in August—the short-term arrival of delayed shipments has eased supply tightness.
• Traders responded by lowering offers to maintain sales momentum, especially amid continued softness in downstream demand.
• Despite lingering cost pressures from freight and raw materials, subdued consumption across key sectors (candles, packaging, cosmetics) helped keep the pricing environment in check.
APAC
• The Paraffin Wax Spot Price in South Korea showed modest fluctuations throughout Q2 2025, with prices declining in April, recovering slightly in June.
• Early in the quarter, prices dipped amid eased freight charges, steady inventory levels, and subdued demand from downstream industries such as personal care and candles.
• As Q2 progressed, tightened global supply, persistent port congestion at Busan and Incheon, and rising intra-Asia freight rates placed upward pressure on prices.
• Traders responded by accelerating restocking activity ahead of anticipated cost increases, especially as refinery output in China remained volatile and redirected to other Asian markets.
• While headline inflation began easing, core consumption sectors remained stable, driving consistent procurement in packaging, coatings, and skincare.
• Despite these pressures, the market found balance by quarter-end as healthy inventory levels, alternate sourcing, and predictable demand patterns helped maintain price stability.
Why did the price of Paraffin Wax change in July 2025 in Asia?
• In July 2025, Paraffin Wax prices in South Korea remained stable, following limited price movements in the preceding weeks.
• This price stability was underpinned by balanced fundamentals—steady import volumes, adequate pre-stocked inventories, and consistent, albeit soft, downstream demand.
• Although port congestion and elevated freight rates persisted, their impact was muted due to effective inventory management and alternate regional sourcing.
• Demand from key sectors—personal care, packaging, and industrial applications—remained stable, without major upticks or declines.
• Market participants adopted a cautious, wait-and-see approach, particularly as global supply chain uncertainty and consumer behavior trends evolve.
• Unless major supply or demand shocks occur, pricing is expected to remain range-bound in the near term.
Europe
• The Paraffin Wax Spot Price in Europe fluctuated during Q2 2025, showing a modest increase in April, a sharp decline in early June, followed by a steady rise by late June and into July.
• Early-quarter pricing was supported by logistical challenges—notably port congestion in the Netherlands and labor shortages—that tightened European import flows from China and the Netherlands.
• By June, a surge in low-cost Chinese exports flooded the market, pressuring suppliers to lower prices amid growing oversupply and subdued downstream demand.
• However, later in the quarter, the reduction in Chinese shipments to Europe—as producers redirected cargoes to the U.S. market—led to tightening spot availability and restored upward price momentum.
• Local refinery outages in Poland and Hungary, along with the impact of blank sailings and General Rate Increases (GRIs) by carriers, further constrained regional availability.
• While summer demand was expected to be soft, proactive buying behavior and steady consumption in end-use sectors like packaging, candles, and cosmetics helped stabilize the market.
Why did the price of Paraffin Wax change in July 2025 in Europe?
• In July 2025, Paraffin Wax prices in the European market rose modestly, reversing earlier softness seen in June.
• This price movement was driven by tightened Chinese export volumes, as producers shifted focus to the U.S. amid temporary tariff relief, limiting availability for European buyers.
• Additionally, regional refinery maintenance in Poland and Hungary constrained local supply, further tightening the market.
• Despite this, logistical networks in Europe remained functional, preventing acute disruptions but contributing to general supply-side firmness.
• On the demand side, while summer typically brings seasonality-driven softness, buyers acted early to secure supply ahead of potential price hikes.
• The combined impact of reduced import availability, steady downstream demand, and geopolitical uncertainty sustained upward pressure on prices.
For the Quarter Ending March 2025
North America
During the first quarter of 2025, the North American paraffin wax market experienced a modest decline, with prices concluding March at approximately USD 1,378 per metric ton. This downward trend was primarily influenced by evolving consumer preferences and ample supply conditions. On the supply side, the U.S. market remained well-stocked, supported by stable production levels and efficient logistics. The absence of significant supply chain disruptions ensured consistent availability, contributing to a balanced market environment. In terms of demand, the candle-making sector, a major consumer of paraffin wax, maintained steady consumption, particularly for scented and decorative candles.
However, the cosmetics industry, another key end-user, reported subdued demand. This was attributed to changing consumer preferences and increased competition from bio-based wax alternatives, such as soy and beeswax, reflecting a growing emphasis on sustainability and environmental concerns among consumers.
Overall, the interplay between stable supply conditions and shifting demand dynamics, particularly the move towards eco-friendly alternatives, contributed to the observed price trends in the North American paraffin wax market during Q1 2025.
APAC
The Asian Paraffin Wax market exhibited divergent trends during Q1 2025, reflecting region-specific demand dynamics and supply conditions. In China, prices experienced a modest uptick, primarily driven by firm domestic demand during the first half of the quarter, coinciding with Lunar New Year festivities. This seasonal uplift in consumer activity supported increased consumption, particularly in sectors such as packaging and decorative candle manufacturing. Additionally, fluctuating crude oil prices exerted upward pressure on production costs, contributing to the price rise. Conversely, the Indian paraffin wax market witnessed a modest downturn during the same period. Major domestic producers such as Indian Oil Corporation Limited (IOCL) and Numaligarh Refinery Limited (NRL) operated at stable production rates, ensuring sufficient supply across the market. However, demand from key downstream sectors, notably candle making and cosmetics, remained subdued due to weak consumer sentiment and competition from bio-based alternatives. Overall, the paraffin wax market in Asia during Q1 2025 was characterized by regionally distinct price movements, shaped by domestic consumption patterns, seasonal factors, and fluctuating feedstock costs.
Europe
The European Paraffin Wax market witnessed a modest price uptick throughout the first quarter of 2025, driven by a combination of logistical disruptions and steady downstream demand. Persistent port strikes, labor shortages, and ongoing port congestion across several key entry points significantly curtailed the availability of imported material. These challenges led to a temporary imbalance in the market, tightening domestic supply and fueling price volatility. Notably, port yard occupancy reached critical levels, reportedly nearing 82%, which further hindered smooth cargo movement. Despite these logistical headwinds, demand from core end-user industries such as candle manufacturing and cosmetics remained stable. Seasonal restocking activities, particularly in anticipation of the Munich festival, bolstered orders for decorative and scented candles. Additionally, forecasts of an early heatwave spurred increased demand for skincare products, further supporting paraffin wax consumption in the region. The combined effect of constrained supply and consistent demand resulted in a widened supply-demand gap, ultimately contributing to the upward price trend observed in the European Paraffin Wax market during Q1 2025.
For the Quarter Ending December 2024
North America
In Q4 2024, the North American Paraffin Wax market was characterized by bearish sentiment. Prices declined primarily due to eased freight charges and an increased surplus of Paraffin Wax. Stockpiling efforts, along with ongoing port congestion in China, led to higher inventory levels. However, weak demand from key downstream sectors, particularly cosmetics and candle-making, exerted downward pressure on prices. The cosmetics sector, in particular, struggled with shifting consumer preferences towards more eco-friendly alternatives and economic challenges that hindered discretionary spending.
Despite proactive measures taken by traders to secure supplies, demand remained subdued throughout the quarter. Additionally, logistical issues, including persistent port congestion and the threat of labor strikes, further exacerbated market instability.
As a result, the market experienced volatility with fluctuating prices, but overall, the sentiment remained slightly bearish. These combined factors of weak demand, logistical disruptions, and shifting consumer behaviors contributed to a challenging market environment for Paraffin Wax in North America during Q4 2024.
Asia-Pacific
The price of Asian Paraffin Wax remained volatile throughout Q4 2024, with a surge observed in both the beginning and end of the quarter, though November saw a slight month-on-month dip. The surge in prices can be attributed to strong demand in anticipation of the festive season, including Lunar New Year in Asia and Christmas and New Year festivities in Western markets. These events drove demand from key sectors such as cosmetics and candle-making. Additionally, consumer spending in China showed significant growth in the third quarter of 2024, particularly in the fast-moving consumer goods (FMCG) and technology sectors, with expectations of continued growth in Q4, further supporting Paraffin Wax demand. However, the volatility in Crude Oil prices, influenced by global uncertainties, resulted in increased production costs, adding to the price pressure. The November dip was attributed to a combination of more favorable input costs and a slight improvement in manufacturing activity. Despite the temporary drop, the overall price trend in Q4 remained influenced by robust demand and fluctuating feedstock costs, which kept the market relatively volatile.
Europe
In the European Paraffin Wax market, Q4 2024 saw notable price volatility. Initially, prices declined due to eased freight charges and a surplus of Paraffin Wax, with stockpiling efforts and port congestion in China resulting in higher inventory levels. Despite this, weak demand from key downstream sectors, particularly cosmetics and candle-making, exerted downward pressure on prices. However, as the quarter entered its final month, prices saw a modest increase, driven by anticipated festive season demand. On the supply side, Northern European ports, including Rotterdam, Antwerp, Hamburg, and Southampton, reported high berth occupancy rates and docking delays of up to four days. Mediterranean ports also faced worsening conditions, exacerbating supply chain disruptions and limiting the availability of imported Paraffin Wax. These logistical challenges further strained the market, preventing smooth supply flow. The price dynamics in Q4 2024 were shaped by the combination of weak demand, supply chain disruptions, and the impact of seasonal demand, leading to a volatile market for Paraffin Wax.
