Price trend

According to the monitoring data of SunSirs, the formaldehyde market in Shandong rose this week. The average price of formaldehyde in Shandong at the beginning of the week was 1,283.33 RMB/ton, and the average price of formaldehyde in Shandong at the weekend was 1,293.33 RMB/ton, an increase of 0.78%, and the price fell by 3.00% month-on-month., and the price rose 0.26% year-on-year.

Analysis review

This week, the market price of formaldehyde in Shandong rose slightly. From the monitoring data of SunSirs, it can be seen that formaldehyde has recently fallen and rebounded, and the market continued to rise this week. As of June 16, the mainstream market price of formaldehyde in Shandong was 1,260-1,320 RMB/ton. Recently, the methanol market has been rising in a narrow range. Under the support of cost, formaldehyde has tentatively followed up. The downstream demand is difficult to improve, maintaining just-needed purchases, the formaldehyde market transaction is general, and the market is up slightly driven by the cost.

Upstream methanol situation: The domestic methanol market has risen recently. The price of raw coal continued to be high, driving the atmosphere of the entire industry chain to be good. At the same time, the volatility at high levels of the crude oil market also drove the chemical products market higher on the macro level. However, after the price of downstream receiving goods rose slightly, the rise in oil prices led to tight return shipping capacity, and there was still room for freight rates to rise. The performance of the demand side was general, and the methanol spot was mainly on the sidelines in the middle and late weeks of the week.

This week, the methanol market rose. Driven by rising costs, formaldehyde manufacturers intended to increase their quotations. However, the start-up of downstream board factories had not improved, the demand for formaldehyde in the market was limited, and the market transaction was general. It is difficult to increase the price of formaldehyde. It was more difficult to increase the price of formaldehyde, and the price of formaldehyde rose slightly.

Market outlook

Recently, the domestic methanol market has been rising, and the demand of downstream wood board factories has continued to be weak. Therefore, the formaldehyde analyst of SunSirs predicts that the recent price of formaldehyde in Shandong will mainly fluctuate upward.

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