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SunSirs: The Cost Support Was General, and the Shandong Formaldehyde Market Was Consolidating
August 05 2022 14:05:32SunSirs(John)

Price trend

According to the monitoring data of SunSirs, the formaldehyde market in Shandong was fluctuating and consolidating this week. The average price of formaldehyde in Shandong at the beginning of the week was 1,206.67 RMB/ton, and the average price of formaldehyde in Shandong at the weekend was 1,213.33 RMB/ton. The current price increased by 0.55% month-on-month and fell by 9.68% year-on-year.

Analysis review

This week, the market price of formaldehyde in Shandong was basically stable. From the monitoring data of SunSirs, it can be seen that the market for formaldehyde did not fluctuate much in the past two months. This week, the market fluctuated and consolidated, and rose slightly. As of August 4, the mainstream market price of formaldehyde in Shandong was 1,200-1,220 RMB/ton. Recently, the methanol market has fluctuated and sorted out, and the cost support was general. The formaldehyde market was basically stable due to the influence of methanol, and the downstream demand was difficult to improve and purchases were maintained just on demand. The formaldehyde market trade was general, and the market fluctuated little.

Upstream methanol situation: The domestic methanol market had a slight upward trend, but the stamina was insufficient and the upward trend was weak. The main reasons are the following two aspects: one is the obvious decline in costs and the weakness of chemical coal in the pit; the other is that the demand continues to be weak and the market confidence is insufficient.

This week, the methanol market first fell and then rose, mainly in shock and consolidation. The downstream plate factories were generally under construction, and they tended to take a wait-and-see attitude towards the formaldehyde market, with strong bargaining sentiment. The market inventory was not well digested, it was difficult to increase the price of formaldehyde, the low price is maintained, and the formaldehyde market does not fluctuate much.

Market outlook

Recently, the domestic methanol market has been fluctuating, and the demand from downstream lumber mills has continued to be weak. Therefore, the formaldehyde analyst of SunSirs predicts that the recent price of formaldehyde in Shandong will mainly fluctuate downward.

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