Price trend

According to the commodity market analysis system of SunSirs the formaldehyde market in Shandong had recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1,196.67 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,193.33 RMB/ton, a decrease of 0.28%. The price had dropped by 7.01% year-on-year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and fallen. From the above chart, it can be seen that the formaldehyde market had mainly fluctuated slightly in the past two months, and this week the market continued to decline slightly. As of March 7th, the mainstream market price in Shandong region was 1,150-1,240 RMB/ton. This week, the price of raw material methanol had slightly declined, with poor cost support. After the Spring Festival, downstream board factories continued to have poor demand, with weak support for formaldehyde procurement. The formaldehyde market had mainly experienced a slight decline.

Upstream methanol situation: The domestic methanol market was operating in a narrow range. In terms of supply, the supply continued to show a tightening trend combined with resonance from rainy and snowy weather, and downstream procurement demand was released in stages, resulting in a phased increase in coal prices recently. However, in the later stage, as coal mines resumed work comprehensively, the impact of extreme weather weakened, and supply and demand recovered and the market will return to a weak and stable trend. The short-term domestic methanol market price will mainly be consolidated.

Market outlook

In recent times, the price of raw material methanol had been weak and declining, with poor cost support, slow resumption of downstream work, normal operation of formaldehyde factories, and accumulation of inventory. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

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