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SunSirs: Demand Was Poor, Shandong Formaldehyde Market Was Weakly Lowered
May 06 2022 10:34:10SunSirs(John)

Price trend

According to the monitoring data of SunSirs, recently, the formaldehyde market in Shandong has fallen. The average price of formaldehyde in Shandong at the end of April was 1,376.67 RMB/ton. On May 5, the average price of formaldehyde in Shandong was 1,366.67 RMB/ton, down 0.73%. The price fell 5.58% month-on-month, and the price fell 0.24% year-on-year.

Analysis review

The formaldehyde market has been weak recently. As of May 5, the mainstream market price in Shandong was 1,300-1,400 RMB/ton. Recently, the raw material methanol market has been weak and consolidated. The cost support was general, the downstream board factory was weakened due to the difficulty of cargo transportation, and the demand was low.

Market outlook

The formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will mainly decline weakly in the near future.

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