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SunSirs: Shandong Formaldehyde Market Declines Due to Insufficient Cost Support

December 04 2020 15:25:34     SunSirs (John)

Price trend

According to data from the Commodity List of SunSirs, the average price of formaldehyde in Shandong on December 1 was 1,200.00 RMB/ton, and on the 3rd, the average price of formaldehyde in Shandong was 1,167.67 RMB/ton, a decrease of 2.78%. The current price has increased by 9.34% from the previous month. Prices have increased by 7.03% year-on-year.

Analysis review   

Recently, the domestic market price of formaldehyde has shown a downward trend. As of December 3, the mainstream ex-factory price in central China was around 1,140 RMB/ton, the mainstream manufacturer in North China was 950 RMB/ton, and the mainstream ex-factory price in East China was 1,198 RMB/ton. Shandong Linyi Yinhe's formaldehyde production capacity of 120,000 tons/year is normal, with a daily output of 200 tons. Recently, the formaldehyde plant in Shandong has basically started normally. In Henan, some enterprises under the control of environmental protection have started to tighten within a narrow range; generally speaking, the trading atmosphere on the market is relatively light, real orders are generally traded, and the formaldehyde market continues to fall.

Upstream methanol situation: The transaction price of Shandong methanol in the Northern Shandong market is sent to spot exchange at 1,980-2,000 RMB/ton. The transaction is fair and the freight is slightly increased. The methanol market price in southern Shandong has temporarily stabilized to around 2,000-2,010 RMB/ton in cash. Linyi will receive local goods at around 2,000 RMB/ton and deliver it without tax. The logistics price is around 1,950 RMB/ton. The transaction in the methanol market in central Shandong is stable to 2,150 RMB/ton in cash out of the warehouse, and the transaction in peripheral goods is stable to 1,990-2,000 RMB/ton in cash. The transaction situation is fair.

Recently, traditional downstream timber board companies have relatively high inventories, and their demand for formaldehyde has weakened. The market is deserted and the demand side is generally supported. The market for formaldehyde has gone down.

Market outlook

Recently, the upstream raw material methanol stopped falling and stabilized, and the formaldehyde factory's mentality was slack in the case of weak cost support. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will mainly fall in the near future.

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

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