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SunSirs: Demand Improved and Shandong Formaldehyde Market Rose
January 15 2021 13:09:17SunSIrs(John)

Price trend

According to data from SunSirs’ bulk list, the Shandong formaldehyde market has recently risen. The average price of Shandong formaldehyde on the 13th was 1,167.67 RMB/ton, and the average price of Shandong formaldehyde on the 14th was 1,220.00 RMB/ton, an increase of 4.57%. The price has increased from the previous month. The t price was up by 15.82% year-on-year.

Analysis review

Recently, the domestic formaldehyde market price has fluctuated and consolidated. As of January 14, the mainstream ex-factory quotations in Central China were around 1,250 RMB/ton, the mainstream manufacturers in North China were 1,060 RMB/ton, and the mainstream ex-factory quotations in East China were 1,270 RMB/ton. Shandong Linyi Yinhe's formaldehyde plant with an annual production capacity of 120,000 tons was shut down. Recently, some formaldehyde factories in Shandong have shut down for maintenance. Recently, the operating rate of formaldehyde has been at a low level, the inventory has fallen rapidly, and the formaldehyde market has risen.

Upstream methanol situation: The ex-factory price of methanol in the southern part of Shandong has temporarily stabilized to 2,300-2,320 RMB/ton, and local goods in Linyi were delivered at around 2,310-2,320 RMB/ton without tax. The quotation of logistics goods was not available. The transaction price of Shandong methanol in North Shandong market was roughly at 2,280-2,300 RMB/ton. The transaction in the methanol market in central Shandong increased by 60 RMB/ton to 2,400 RMB/ton in cash, and the transaction price of external goods may be 2,300-2,320 RMB/ton, and the transaction was average. The methanol market has an upward trend in some areas, which can support formaldehyde.

Recently, Shandong Timber Factory is in the stage of rushing to work before the holiday, and is actively purchasing formaldehyde, and the market trading atmosphere is enthusiastic. Formaldehyde manufacturers have a better mentality, leading the rise in the formaldehyde market.

Market outlook

Recently, the upstream raw material methanol market has risen slightly, cost support is strong, the demand of downstream wood mills has improved, and the willingness to purchase is strong. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will rise slightly mainly in the near future.

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