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SunSirs: ThePrice of Paraformaldehyde in Shandong Fluctuated Narrowly
March 22 2024 11:39:08SunSirs(John)

Price trend

According to the commodity market analysis system of SunSirs, the price of paraformaldehyde in Shandong had been fluctuating and consolidating recently. At the beginning of the week, the average production price of paraformaldehyde in Shandong was 4,737.50 RMB/ton, and on the weekend, the average production price of paraformaldehyde in Shandong was 4,762.50 RMB/ton, an increase of 0.53% and a year-on-year decrease of 12.06%.

Analysis review

Upstream methanol situation: The domestic methanol market was operating in a narrow upward trend. Anqing Shuguang and Xiaoyi Xindongheng’s equipments were on maintenance; Guangju New Materials, Yunnan Qumei, and Yunnan Pioneer Plants had reduced production; Daqing Methanol Plant, Sinopec Changcheng, and Xinjiang Xinye Plants had been restored. The overall loss was greater than the recovery, resulting in a decrease in capacity utilization. The supply side of methanol was influenced by favorable factors. The low volume of methanol arriving at the port and the low level of port inventory had provided strong support to the market, resulting in a slight increase in the methanol market.

Market outlook

Recently, the price of raw material methanol had slightly increased, and cost support had improved. The market for paraformaldehyde is expected to follow suit, and paraformaldehyde analysts from SunSirs predict that the paraformaldehyde price may increase slightly.

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