Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong fluctuated and rose in August. At the beginning of the month, the average price of formaldehyde in Shandong was 1,140.00 RMB/ton, and at the end of the month, the average price of formaldehyde in Shandong was 1,203.33 RMB/ton, an increase of 5.56%. The price had decreased by 3.48% compared to last year.

Analysis review

In August, the market price of formaldehyde in the Shandong region increased. From the above figure, it can be seen that the formaldehyde market had been rising since the end of June and continued to rise this month. As of August 29th, the mainstream market price in Shandong region was 1,150-1,260 RMB/ton. In August, the raw material methanol market fluctuated and rose, and formaldehyde manufacturers operated normally. The demand of downstream sheet factories mainly remained on demand, and production enterprises faced significant shipping pressure. Formaldehyde mainly rose with fluctuations in raw materials, but the increase was relatively small.

Upstream methanol situation: In August, the domestic methanol market fluctuated and rose, and the overall supply and demand structure of the chemical coal market still showed a loose trend. In addition, as the "peak summer" entered the second half, the terminal daily consumption gradually showed a seasonal decline trend. The cost side of methanol was influenced by bearish factors. Short term cost support was limited, supply changes were not significant, and demand was expected to increase. Methanol analysts from SunSirs predict that the domestic methanol market will tentatively rise.

Market outlook

Recently, the methanol market was mainly fluctuating and rising, with good cost support. However, downstream panel factories were more resistant to high priced formaldehyde. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly increase slightly in the near future.

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