SunSirs: The Demand Had Not Improved, and the Shandong Formaldehyde Market Was Weak and Consolidated

Price trend

According to the monitoring data of SunSirs, the formaldehyde market in Shandong has been weak and consolidated recently. The average price of formaldehyde in Shandong was 1,213.33 RMB/ton, down 6.19% from the previous month and down 9.45% from last year.

Analysis review

Recently, the market price of formaldehyde in Shandong has been weak and consolidated. From the monitoring data of SunSirs, it can be seen that the market of formaldehyde has mainly fluctuated and declined in the past two months, and the recent market has been basically stable. As of July 19, the mainstream market price in Shandong was 1,200-1,220 RMB/ton. Recently, the methanol market has not fluctuated much, the cost support was general, and the downstream operating rate has not greatly improved, maintaining just-needed purchases, formaldehyde manufacturers had stable shipments, and the market was weak and consolidating.

Upstream methanol situation: The domestic methanol market was sluggish and the decline slowed down. In the main terminal market, the price of receiving goods in the northern Lubei region fell simultaneously, and the raw material inventory of local downstream factories was high. The cost of methanol production might be weakened, the supply of methanol was not reduced, and the downstream was mainly based on rigid demand. The methanol analyst of SunSirs predicts that the domestic methanol market may still decline from a low level in the short term.

This week, the methanol market consolidated at a low level, and the cost support was general. The start-up of the downstream board factory had not improved, the market demand for formaldehyde was limited, the formaldehyde manufacturers were shipping normally, the market transaction was light, and the formaldehyde market was weak and consolidating.

Market outlook

The recent domestic methanol market has a downward trend, and the demand from downstream lumber mills continues to be poor. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will mainly decline weakly in the near future.

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