Price trend

According to the monitoring data of SunSirs, the formaldehyde market in Shandong fell this week. The average price of formaldehyde in Shandong at the beginning of the week was 1,320.00 RMB/ton, and the average price of formaldehyde in Shandong at the weekend was 1,300.00 RMB/ton, down 1.52%. The price fell by 7.36% month-on-month fell 10.81% year-on-year.

Analysis review

The market price of formaldehyde in Shandong fell this week. From the monitoring data of SunSirs, it can be seen that formaldehyde had mainly fallen in the past two months, and the market continued to decline this week. As of May 26, the mainstream market price of formaldehyde in Shandong was 1,270-1,350 RMB/ton. Recently, due to the domestic public health incident, the downstream board factory weakened due to the difficulty of cargo transportation, and the demand declined. The inventory in Linyi area was relatively high, and the destocking was not smooth, and the market price declined weakly.

Upstream methanol situation: According to the monitoring data of SunSirs, the average domestic methanol market price has recently been 2,647 RMB/ton, and the market has fallen. Raw coal prices and oil prices are firm, and downstream Tianjin Bohua MTO is expected to be put into production. At the same time, the supply side is relatively abundant. Under the current circumstances, due to the game between supply and demand, the domestic methanol market may mainly decline in the short term.

This week, the methanol market fell slightly, the cost support was general, the capacity utilization rate in the formaldehyde field was higher, and the inventory was rising. The construction of the downstream board factory was at a low level due to the impact of public security incidents, maintaining just-needed purchases, and the market trading atmosphere was deserted. Formaldehyde manufacturers took the initiative to lower their quotations for shipments, and the market continued to decline.

Market outlook

Recently, the domestic methanol market has fluctuated and declined, and the demand from downstream lumber mills is weak. Therefore, the formaldehyde analyst of Sunsirs predicts that the price of formaldehyde in Shandong will mainly fall in the near future.

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