SunSirs: The Price of Methanol Fell and the Formaldehyde Market Fell Slightly
May 22 2020 14:11:47 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the average price of formaldehyde in Shandong on May 18 was 876.67 RMB/ton, and the average price of formaldehyde in Shandong on May 21 was 863.33 RMB/ton, a decrease of 1.52%. The current price fell by 27.04% year-on-year.
Analysis review
Product: Recently, the domestic formaldehyde market price has dropped slightly. As of May 21st, the mainstream factory offer price in Hebei was around 740 RMB/ton, the Shandong factory offer was 815 RMB/ton, and the Jiangsu factory offer was 1,075 RMB/ton. Shandong Linyi Yinhe ’s annual output of 120,000 tons of formaldehyde has been restarted, with a formaldehyde content of 36.7-37%. The start-up of formaldehyde enterprises is basically stable, the market supply is relatively sufficient, the atmosphere of on-site trading is deserted, the attitude of formaldehyde manufacturers is negative, and the prices drop slightly.
Industry chain: Upstream methanol situation: Some upstream enterprises in the northwest such as Shaanxi and Mongolia lowered the selling price to RMB 1,300-1,330 / ton. The two sessions will be held soon, freight rates are high, traders are cautious, and methanol prices have fallen. The cost support of formaldehyde cannot be given, the downstream terminal demand is still weak, the shipments of formaldehyde companies are not good, the prices of formaldehyde companies have been affected by the decline in raw materials, and the market fell slightly.
Market outlook
Recently, the price of upstream methanol has fallen in a narrow range, the cost support is weak, and the trading atmosphere on the floor is general. Therefore, the formaldehyde analysts of SunSirs predict that the domestic formaldehyde prices may be consolidating in the near future.
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