What drives China's paraffin wax export volumes and price trends?

What drives China's paraffin wax export volumes and price trends?
China remains the world's dominant paraffin wax exporter, with shipments of fully and semi-refined grades (oil content under 0.75%) reaching 66.01 thousand tons in 2025, down from a peak of 80.19 thousand tons in 2021. Export value followed a similar path, easing to USD 735 million last year from USD 852 million in 2021. Key buyers include Mexico, the US, Poland, Germany and Canada, together absorbing a large share of global imports. Domestic supply is highly concentrated in northeastern refineries, led by Fushun Petrochemical, the world's largest producer at over 600,000 tons per year, followed by Daqing Refining and Dalian Petrochemical. Export flows rely heavily on Dalian port, which handles a major portion of China's overseas wax shipments. Supply tightness at domestic refineries, reflected in low inventory levels of around 5,900 to 12,000 tons, has repeatedly supported prices during seasonal demand peaks.