US paraffin wax imports in November fell as weaker demand across all sectors and ample availability for all wax grades caused US Gulf coast refiners to increase efforts in reducing inventory buildup.
US paraffin wax imports fell to 90,000 bl in November, down by 55pc from year-earlier levels of 140,000 bl, according to the US Energy Information Administration (EIA).
Imports were also down by 50pc from October and hit the lowest level since January 2017.
Several producers experienced weaker than usual demand across all sectors and had surplus in all wax grades.
A small number of producers experienced strong demand as customers rebuilt inventories ahead of anticipated price increases in December for all grades of base oils, which are the feedstock of waxes.
A key US Gulf coast Group I producer returned from a 45-day planned turnaround, causing supplies in the domestic market to become longer.
US paraffin wax production in November was 132,000 bl, unchanged from a year earlier, according to the EIA.
Production was down by 7.3pc from October levels.
US paraffin wax imported from Taiwan rose to 3,000 bl in November, down from 11,000 bl a year earlier. Still, imports in November were up from 1,000 bl in October.
Paraffin wax imported from China fell to 6,000 bl, up from 2,000 bl a year earlier. Imports were down from 26,000 bl in October.
Paraffin wax imported from Canada fell to 80,000 bl, down from 83,000 bl a year earlier and down 28pc from October.
