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SunSirs: Raw Material Methanol Rose, and Formaldehyde Market in Shandong Followed the Rise
June 17 2021 14:24:50SunSirs(John)

Price trend

According to data from SunSirs’ Commodity List, the Shandong formaldehyde market has recently risen. The average price of Shandong formaldehyde on the 15th was 1,287.50 RMB/ton, and the average price of Shandong formaldehyde on the 16th was 1,290.00 RMB/ton, an increase of 0.19%. The price fell by 8.94% month-on-month and increased by 47.71% year-on-year.

Analysis review

Recently, the domestic market price of formaldehyde has risen. As of June 16, the mainstream market price in Central China was about 1,296 RMB/ton, the mainstream market price in North China was 1,185 RMB/ton, the mainstream market price in Northwest China was 1,183 RMB/ton, and the mainstream market price in East China was 1,296 RMB/ton. Recently, the trading atmosphere of the formaldehyde market was fair, the transaction situation was good, and the formaldehyde market was showing a fluctuating upward trend.

Upstream methanol situation: The methanol market was mainly on the rise. The negotiated price of methanol in the southern part of Shandong increased by 10 RMB/ton to 2,360-2,370 RMB/ton. Linyi received local goods to negotiate the price to around 2,360-2,370 RMB/ton, and the offer price of logistics goods was temporarily unavailable. The inventory of enterprises was not high, and the atmosphere of market negotiation was good. Reference price of methanol market in northern Shandong was 2,390 RMB/ton. Methanol market rose, the overall transaction atmosphere was better, and the support for formaldehyde was relatively strong.

At present, the plate factories in Shandong are in good condition, the formaldehyde market is good, the demand is high, and the inquiries are enthusiastic. The Shandong formaldehyde trading market has a positive atmosphere, the transaction is fair, and the focus of the formaldehyde market is shifting upward.

Market outlook

Recently, the upstream raw material methanol market has shown an upward trend, and the downstream panel factories have a good demand and active purchases. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will increase mainly in the near future.

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