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SunSirs: Supported by Cost, Shandong Formaldehyde Market Went Up
October 14 2020 13:43:58SunSirs(John)

Price trend

According to data from the Commodity List of SunSirs, the average price of formaldehyde in Shandong on the 12th was 1,016.67 RMB/ton, and the average price of formaldehyde in Shandong on the 13th was 1,050.00 RMB/ton, an increase of 3.28%. The current price has increased by 8.25% from the previous month, and the current price fell by 19.20% year-on-year.

Analysis review

Recently, the domestic market price of formaldehyde has stabilized. As of October 13, the mainstream ex-factory price in Central China was around 916 RMB/ton, the mainstream manufacturer in North China was priced at 830 RMB/ton, and the mainstream ex-factory price in East China was 1,033 RMB/ton. Shandong Linyi Yinhe's formaldehyde production capacity of 120,000 tons/year is normal, with a daily output of 200 tons. Recently, the formaldehyde plant in Shandong has basically started normally. The trading atmosphere in the market has improved compared with the previous period, real orders are fair and the formaldehyde market is rising.

Upstream methanol situation: The methanol market quotation in southern Shandong increased by 20-50 RMB/ton to around 1,850-1,870 RMB/ton in cash. The local quotation in Linyi is around 1,850 RMB/ton and does not include tax. There is no quotation for logistics goods. The regional supply of goods is reduced, and the corporate mentality is firm. The main factors contributing to the price increase are the positive impact of futures and the favorable impact of the rebound in downstream demand. In the short term, positive factors will remain for a period of time, and traders are even more bullish. The cost support is strong, and the formaldehyde market is rising.

Recently, the overall demand for downstream timber has been flat, and the start of construction has not improved significantly, and demand support is limited. The purchase of formaldehyde is mainly based on rigid demand, and the trading atmosphere is general.

Market outlook

Recently, the upstream raw material methanol has continued to rise. Due to the strong increase in the cost, the formaldehyde market has followed the rise. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will rise in the near future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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