SunSirs: Raw Material Prices Fell and Shandong Formaldehyde Market Followed the Decline

Price trend

According to data from the Commodity List of SunSirs, the Shandong formaldehyde market has recently declined. The average price of formaldehyde in Shandong on March 22 was 1,316.67 RMB/ton, and the average price of formaldehyde in Shandong on March 23 was 1,273.33 RMB/ton, a drop of 3.29%.The current price has increased by 6.11% month-on-month, and the current price has increased by 24.03% year-on-year.

Analysis review

Recently, the domestic market price of formaldehyde has fallen. As of March 23, the mainstream ex-factory price of formaldehyde in Central China was around 1,283 RMB/ton, the mainstream manufacturer in North China was quoting 1,175 RMB/ton, and the mainstream ex-factory price of formaldehyde in East China was 1,264 RMB/ton. Shandong Linyi Yinhe's 120,000-ton/year formaldehyde plant has been restarted. Recently, the trading atmosphere in the formaldehyde market has been sluggish, transactions have been mediocre, and the market has fallen.

Upstream methanol situation: The mainstream negotiation of methanol market in central Shandong is 2,070-2,080 RMB/ton. The negotiated price of the methanol market in northern Shandong is stable at 2,070-2,080 RMB/ton for delivery. The mainstream negotiated price of methanol in southern Shandong has temporarily stabilized to around 2,180-2,200 RMB/ton. Linyi received local methanol to negotiate the price to around 2,160-2,170 RMB/ton, and the logistics cargo offer is sent at 2,130-2,140 RMB/ton. The methanol market continues to fall, which cannot support the formaldehyde market.

Recently, the downstream board factories and adhesive factories in Shandong have a low stocking atmosphere, and the industry has a strong wait-and-see mood. Some manufacturers maintain just-need purchases and have limited support for formaldehyde. The formaldehyde market tends to fall.

Market outlook

Recently, the upstream raw material methanol has shown a downward trend, and the demand from downstream plate factories is general, and the falling cost is difficult to support the formaldehyde market. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will fall mainly in the near future.

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