Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong has been fluctuating and consolidating recently. This week, the average price of formaldehyde in Shandong was 1,103.33 RMB/ton, and the price had decreased by 14.55% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region was relatively stable. From the above chart, it can be seen that the recent formaldehyde market mainly fluctuated slightly, and the market continued to remain stable this week. As of July 6th, the mainstream market price in Shandong region was 1,020-1,150 RMB/ton. This week, the price of raw material methanol showed an upward trend, but downstream sheet factories had poor demand, and market trading sentiment was average. Formaldehyde manufacturers were shipping normally, and the market was consolidating.

Upstream methanol situation: The domestic methanol market situation was sorted out. The ex factory price of methanol in the southern region of Shandong was referenced to be around 2,100 RMB/ton, while the delivery price in Linyi was referenced to be around 2,160 RMB/ton. The local methanol factory in central Shandong offered a price of 2,250-2,250 RMB/ton for self delivered from the factory. The negotiated price range for methanol in the Dongying region of Shandong was 2,070-2,090 RMB/ton.

Market outlook

Recently, there as an upward trend in the methanol market, with good cost support. Downstream sheet factories were experiencing poor operating rates due to high temperatures, causing a tug of war between supply and demand. Therefore, formaldehyde analysts from the Chemical Branch of SunSirs predict that formaldehyde prices in Shandong will mainly fluctuate and rise in the near future.

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