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SunSirs: Shandong Paraformaldehyde Price Fluctuated and Consolidated
February 22 2024 15:00:41SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, the price of paraformaldehyde in Shandong had been fluctuating and consolidating recently. This week, the average production price of paraformaldehyde in Shandong was 4,762.50 RMB/ton, a decrease of 10.81% compared to last year.

Analysis review

Upstream methanol situation: The domestic methanol market was operating with a narrow decline. Global coal supply remained stable, domestic imports had increased, and the increase in domestic demand was insufficient to support coal prices at high levels; In terms of demand, the overall pressure on inventory in power plants was relatively low, and terminals replenished inventory as needed. The demand for coal in the market was relatively flat, and the overall sentiment was wait-and-see. In the short term, the chemical coal market may maintain a volatile and weaker operation. The cost side had bearish factors for the methanol

Market outlook

Recently, the price of raw material methanol had been mainly weak and consolidating, with poor cost support. Downstream procurement remained in demand, and paraformaldehyde analysts from SunSirs predict that the price may slightly decline.

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