Price trend

According to the data from the monitoring list of SunSirs, the average price of paraformaldehyde in Shandong at the beginning of the year was 5,966.67 RMB/ton, and the average price of paraformaldehyde in Shandong at the end of the year was 5,400.00 RMB/ton, down 9.50%. The highest point was the beginning of the year, and the lowest point was July 31. The highest point was 11.73% higher than the lowest point.

Analysis review

In 2022, the market price of paraformaldehyde in Shandong Province fell sharply. From the figure above, it can be seen that formaldehyde in 2022 was on the rise for five months. The highest increase in a single month was in March, reaching 2.98%. The rise in February was mainly due to the surge in the international crude oil price, the obvious benefits of bulk commodities, the positive rise in the petrochemical industry chain, and the sharp rise in the paraformaldehyde market. In 2022, formaldehyde had a downward trend for seven months, with the largest decline in January, reaching 7.26%. The main reason for the decline was the continuous decline of raw material methanol. In addition, affected by public safety events, the logistics in Shandong was not smooth, while the downstream construction was at a low level, and the supply exceeded the demand, leading to a sharp decline in the market of paraformaldehyde.

Upstream methanol situation: In 2022, the domestic methanol market showed an "M" trend, with two "ups and downs" cycles throughout the year. The price at the beginning of 2022 was 2,375 RMB/ton, and the average market price of domestic methanol in East China by the end of December 31, 2022 was 2,698 RMB/ton, up 13.61% in the year. The two price "highs" appeared at the end of the first quarter and the middle of the third quarter. The highest price was 3,246.67 RMB/ton on October 8, and the lowest price was 2,315 RMB/ton on July 15, with the annual maximum amplitude of 40.24%. It can be seen from the above figure that methanol-formaldehyde basically maintained the same curve throughout the year. The market of methanol played a leading role in paraformaldehyde.

Market outlook

The methanol market has fluctuated recently, and the cost support is general. As the Spring Festival approaches, demand is poor, and paraformaldehyde analysts of SunSirs predict that the price of paraformaldehyde may mainly fall slightly.

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