31.05.2021

Prices of paraffin waxes and vegetable fats are at record levels, but there are no signs of a slowdown in price increases.

In May, many refineries in Europe and China were undergoing maintenence, and as a result, the supply of paraffins was very limited. We expect less problems on the supply side in June, although only in the second half of the month, when production and steady supply will finally resume.

On the other hand, supplies of paraffins and vegetable waxes from Asia are limited due to e.g. very high prices of vegetable oils and fats as well as due to record high shipping prices. Unfortunately, it seems that the prices of shipping will even increase in the future, so we expect tighter conditions at least until the end of the year.