U.S. benchmark and international crude benchmarks both fell as investors took profits following prior gains on the announcement of sweeping new U.S. sanctions targeting Iran. The 'Operation Economic Outcast' campaign imposes global sanctions with no exemption for China, creating uncertainty around Iranian oil flows. Prices remain volatile as markets assess whether the sanctions will successfully isolate Iran's energy sector or be circumvented.
Crude oil futures firmed amid firm spot demand, with both major global benchmarks edging higher in trade. Increased positioning by market participants reflected continued underlying demand support.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Paraffin | China | FOB | USD 1,049.38/MT | July 2026 |
| Paraffin | India | FOB | USD 1,616.00/MT | July 2026 |
| Paraffin | USA | CIF | USD 1,236.87/MT | July 2026 |
| Paraffin | Germany | CIF | USD 1,183.01/MT | July 2026 |
| Paraffin | Canada | CIF | USD 1,251.87/MT | July 2026 |
| Paraffin | China | FOB | USD 1,048.84/MT | June 2026 |
| Paraffin | India | FOB | USD 1,631.66/MT | June 2026 |
| Paraffin | USA | CIF | USD 1,203.84/MT | June 2026 |
| Paraffin | Germany | CIF | USD 1,169.84/MT | June 2026 |
| Paraffin | Canada | CIF | USD 1,203.84/MT | June 2026 |
Stay updated with the latest Paraffin prices, historical data, and tailored regional analysis
Asia
China’s paraffin averaged around USD 1,049/MT FOB in June 2026, while India recorded an average of approximately USD 1,632/MT FOB. Asian prices opened the quarter firmly as Middle Eastern supply disruption; reduced refinery runs and precautionary procurement tightened feedstock availability. Pressure weakened during May when regional tensions eased and buyers reduced purchases. Chinese demand from candle, packaging and rubber manufacturers remained subdued, leading to cautious transactions and softer supplier offers. Indian trading also slowed, although temporary feedstock and logistics constraints prevented a sharper correction. The market became more stable in June as shipping conditions improved.
Europe
Germany’s June 2026 paraffin assessment averaged USD 1,170/MT CIF. European prices remained firm during April because Gulf supply disruptions increased feedstock, freight and replacement costs. The market softened in May as geopolitical concerns eased, and refinery input costs declined. Weak industrial activity and cautious purchasing from candle, packaging and board-sizing producers added downward pressure. During June, values stabilized as logistics improved. Firm diesel and jet-fuel margins supported refinery operations, while slow downstream purchasing prevented a meaningful paraffin recovery.
North America
The June 2026 average for US paraffin stood at ~USD 1,204/MT CIF. Prices received support in April from elevated feedstock costs, supply uncertainty and export demand. The market weakened during May as inland consumption softened and upstream pressure reduced. Conditions stabilized in June because petroleum-product exports continued absorbing refinery output. Uneven refinery throughput and cautious domestic buying prevented a stronger recovery.
Analyst Insight
According to Procurement Resource, paraffin prices may remain mixed. Improving feedstock flows could ease costs, but refinery operating rates, export demand and cautious downstream purchasing should prevent a broad decline.
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Asia
In Asia, paraffin prices remained firm during Q1’26 due to elevated refinery-linked production costs and higher regional freight expenses. Market sentiment strengthened after Reuters reported that Brent crude forecasts for 2026 increased by nearly 30% from pre-war estimates, while global energy supply concerns intensified due to the Iran conflict. Tightened export availability and higher marine insurance costs following the Strait of Hormuz disruption supported replacement values across China and India. Stable downstream demand from candles, packaging waxes, rubber products, textiles, and adhesives continued to support regional procurement despite cautious buying activity.
Europe
In Europe, paraffin prices strengthened as import-dependent buyers faced elevated freight, utility, and replacement costs during Q1’26. Shipping disruptions and rerouting of tanker cargoes increased logistics expenses across the region, while concerns regarding declining OPEC+ output by up to 11 million barrels/day in Q2’26 further tightened energy-linked sentiment. Demand from cosmetics, board coating, industrial wax applications, and candle manufacturing remained comparatively stable, although weaker industrial activity limited sharper gains.
North America
In North America, paraffin prices remained stable-to-firm due to higher export replacement costs and tightening global refinery economics. Reuters also noted that WTI forecasts increased substantially from pre-conflict projections, while the International Energy Agency’s 400-million-barrel strategic release covered only around 20 days of normal Hormuz flows, sustaining supply-risk sentiment globally. Demand from packaging, adhesives, candles, rubber processing, and industrial wax applications remained balanced, supporting steady procurement activity despite cautious inventory management.
Paraffin, composed of a mixture of hydrocarbon molecules, is a soft colorless solid, obtained from petroleum, coal or shale oil. At room temperature, the substance is solid, but begins to melt above approximately 37 °C (99 °F). Its boiling point is over 370 °C (698 °F).
Lubrication and hot melt adhesives, Agriculture, Electrical insulation, Food, Candles, Rubber and plastic processing aids
Paraffin wax, Petroleum wax
Paraffinwaxco, Inc., Sinopec, PetroChina Company Limited, Chennai Petroleum Corporation Limited, Numaligarh Refinery Limited, UNICORN PETROLEUM INDUSTRIES PVT. LTD.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Slack wax, a mixture of oil and wax, is a byproduct from the refining of lubricating oil. While preparing Paraffin from slack wax, the oil is removed (de-oiling or de-waxing) from the slack wax and it is further crystallised and then filtered to produce Paraffin.
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