For the Quarter Ending September 2023
North America

In the third quarter of 2023, the Liquid Paraffin market in Brazil witnessed a significant price downturn. Prices, averaging $1240/MT CFR Santos by the quarter's close, marked a 1.81% decrease from the initial $1290/MT. This decline was primarily fueled by diminished demand for Liquid Paraffin, resulting in an overall market rate reduction. Several factors contributed to this price descent, including waning interest from the oil and gas sector and an increased supply of Liquid Paraffin. The United States, being the foremost importer, felt the repercussions of falling prices from exporting nations. Recent developments in international trade, coupled with decreased maritime shipping costs and alleviated port congestion, played a role in driving overall cost reductions that influenced market dynamics. The amalgamation of heightened availability and decreased demand in local and global markets exerted downward pressure on Liquid Paraffin prices. The global economic slowdown prompted caution among market participants for bulk purchase orders, while speculators actively engaged in trading Liquid Paraffin futures, anticipating further price drops, contributing to the overall pricing reduction.

Asia

During the third quarter of 2023, the Asia-Pacific Liquid Paraffin market experienced a comprehensive performance decline. The descent commenced in June with price reductions. Export challenges for Indian suppliers surfaced due to uncertain economic conditions in China and the USA, significantly impacting global trade and dampening market optimism. Suppliers also wrestled with substantial Liquid Paraffin inventories, leading to price adjustments to expedite product turnover. Some market participants reduced inventories to enhance cash flow, further contributing to the price decline. In the same quarter, the Purchasing Managers' Index (PMI) for the Indian manufacturing sector was 57.5, indicating ongoing expansion but at a slower rate compared to the previous quarter. This deceleration was primarily attributed to a decrease in new orders and output. However, consistent price increases were observed in September, driven by stable demand from downstream industries. Despite fluctuations in demand, buyers maintained limited stocks of standard-sized materials with fast delivery options. The spot market improved as sales streamlined and gained momentum in downstream sectors. As the quarter concluded, Liquid Paraffin prices averaged USD 1184.21/MT, reflecting a quarterly decrease of 0.76%.

Get Real Time Prices of Liquid Paraffin: https://www.chemanalyst.com/Pricing-data/liquid-paraffin-1197

Europe

In the third quarter of 2023, the Liquid Paraffin market in Spain witnessed significant price fluctuations, primarily influenced by increased local stock levels. These price variations were exacerbated by inflation and low consumer confidence, intensifying the downward pressure on liquid paraffin pricing. To mitigate potential losses, domestic merchants opted to reduce their price quotations, holding substantial reserves of liquid paraffin. Spain, as the primary importer, felt the impact of declining prices from exporting countries. Changes in tariffs between China and Europe, along with reduced sea freight congestion, reshaped the market landscape by lowering costs. Decreased demand domestically and internationally, coupled with a global economic slowdown, contributed to the overall downward pressure on Liquid Paraffin prices. Market participants, cautious due to economic conditions, refrained from large orders, while speculators actively traded Liquid Paraffin futures in anticipation of future price drops. As Q3 concluded, Liquid Paraffin prices averaged $1285/MT CFR Algeciras, reflecting a quarterly depreciation of 1.39% from an initial $1320/MT.





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