China Paraffin Wax Export Supported Domestic Market to Revive
According to the statistics released by the General Administration of Customs, in July, China’s paraffin wax export volume was 57.16kt, up 6.9% M-O-M and up 6.5% Y-O-Y. With the gradual relief of the global COVID-19 issue, many participants were active in speculations, supporting the paraffin wax export volume to grow. Meanwhile, in July, China’s paraffin wax import volume was 2.799kt, down 2.5% M-O-M and up 71.1% Y-O-Y. Therein, China’s paraffin wax import volume from Malaysia and Japan increased significantly. In July, China’s paraffin wax apparent consumption volume was 71.6kt, up 20.5% M-O-M and up 7.7% Y-O-Y.
In terms of the trade mode in paraffin wax exports, in July, the paraffin wax export volume via general trade ranked first at 37kt, accounting for 65% of the total. Most of such resources were produced by PetroChina’s refineries in Northeast China. The paraffin wax export volume via the trade mode of processing and assembling trade provided with raw materials ranked the second place at 20kt, accounting for 35% of the total. Most of such resources were processed by PetroChina Dalian Petrochemical.
