SunSirs: Demand Was Insufficient and Formaldehyde Market Declined

Price trend

According to the price monitoring of SunSirs, the average price of formaldehyde in Shandong on March 30 was 956.67 RMB/ton, and the average price of formaldehyde in Shandong on April 2 was 860.00 RMB/ton, a decrease of 10.10%. The current price fell 44.52% year-on-year.

Analysis review   

Product: The domestic formaldehyde market price has fallen recently. As of April 2nd, the mainstream factory offer in Hebei was about 835 RMB/ton, the mainstream factory offer in Shandong was 775 RMB/ton, and the mainstream factory offer in Jiangsu was 1,100 RMB/ton. The annual output of 120000 tons formaldehyde plant in Linyi Yinhe, Shandong Province has been restarted, with the formaldehyde content of 36.7-37%. Linyi Jinyuan Chemical Co., Ltd. has two formaldehyde production lines with an annual production capacity of 80000 tons and formaldehyde content of 37%, which have been restarted. The formaldehyde market has sufficient supplies and the trading atmosphere is light. Formaldehyde manufacturers are actively taking goods and prices continue to fall.

Industrial chain: Upstream methanol situation: Domestic methanol prices have continued to fall, some of which have fallen to the cost line, and some factories have lost money. Most factories in the main production areas have little pressure on inventory, and they have tentatively increased recently. The downstream market has insufficient demand due to the impact of public health events. Although it is near Qingming Festival, there is no stocking. The procurement is mainly on demand, and the overall transaction is light. Formaldehyde companies have lowered their prices, and the market has been declining.

Market outlook

Recently, the upstream methanol has fallen to a low level, and the cost has fallen. In addition, the demand for downstream plate companies is not good, and the market turnover is light. Therefore, the formaldehyde analyst of SunSirs predicts that the domestic formaldehyde price may be consolidated at a low level recently.

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