I have read that some folks use beeswax to shine their pipes. Typically, it's used as a curing agent for Meerschaum pipes. I have not used it otherwise, so I cannot speak from experience.
Carnuba is a very good option. Liquid carnuba (car wax) works wonders on stems. The extra chemicals in that form of wax do some fairly nasty things to the actual pipe, though (at least, as far as I've found -- screwed up the finish of a beater pipe). Hard carnuba must be applied with a buffer. Not sure if you have one available.
Two excellent alternatives are Halcyon II and Paragon Wax (both from the same maker). Each costs anywhere between five or eight dollars, depending where you buy it. Halcyon II is less viscous and is used to put a good shine on rusticated and sandblasted pipes. Paragon is used for smooth finishes. Both have a similar melting point as carnuba, so they're durable waxes. Just apply a very tiny amount with your finger to cover the bowl and stem, buff with a soft cloth (I use an old mini shoe brush), and then a final wipe away buff.
Hope this helps