Price trend

According to the commodity market analysis system of SunSirs, the formaldehyde market in Shandong had recently risen. At the beginning of the week, the average price of formaldehyde in Shandong was 1,212.50 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,240.00 RMB/ton, an increase of 2.27%. The price had increased by 4.49% year-on-year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and risen. From the above chart, it can be seen that the formaldehyde market had mainly fluctuated slightly in the past two months, and this week's market had risen. As of May 8th, the mainstream market price in Shandong region was 1,220-1,360 RMB/ton. This week, the price of raw material methanol had risen significantly, with strong cost support. Downstream demand for essential purchases had been maintained, and the market for formaldehyde manufacturers had mainly followed the rise of methanol.

Upstream methanol situation: The domestic methanol market was mainly experiencing a narrow upward trend. In recent times, there had been little contradiction in the fundamentals of methanol. The inventory of mainland sample enterprises was relatively low, and there was not much pressure on their shipments. In addition, some enterprises were outsourcing, resulting in a relatively high market atmosphere. The overall market was mainly strong. Downstream MTBE: After Yuhuang started construction, it affected next week's production, leading to an increase in MTBE demand; Downstream chloride: After the shutdown and maintenance of mainstream factories in Shandong, the equipment returned to normal, and the demand for chloride increased; The short-term domestic methanol market is mainly stronger.

Market outlook

Recently, the price of raw material methanol had continued to rise, followed by a slight pullback. There were relatively few new orders in the downstream board market, and terminal demand was poor. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline slightly in the near future.

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