SunSirs: Shandong Formaldehyde Market Price Shook and Consolidated

Price trend

According to the monitoring data of SunSirs, the formaldehyde market in Shandong Province has been in shock and consolidation recently. The average price of formaldehyde in Shandong Province was 1,200.00 RMB/ton, and the current price dropped 0.83% year on year.

Analysis review

Recently, the price of formaldehyde market in Shandong Province has fluctuated and consolidated. From the monitoring data of SunSirs, it can be seen that the recent market of formaldehyde has fallen mainly. As of January 5, the mainstream market price in Shandong was 1,100-1,300 RMB/ton. Recently, with the Spring Festival approaching, downstream demand has weakened significantly, and some formaldehyde manufacturers have had holidays in advance. The formaldehyde market was weak and consolidated.

Upstream methanol: The domestic methanol market fluctuated slightly, and methanol futures rose in shock, driving the domestic methanol spot market to perform well in the mainland. After the price of the production enterprises in the northwest of the main production area rose to more than 2,000 RMB/ton, Rongxin's auction continued to rise on the 5th, and it had been auctioned to 2,070 RMB/ton for delivery. In terms of production enterprises, the market atmosphere has gradually improved. However, the domestic supply level of methanol may continue to maintain a high level, with no significant fluctuations in the short term. On the other hand, with the Spring Festival approaching, demand recovery, downstream goods preparation and orders have changed significantly.

Market outlook

Recently, the methanol market has been in shock and consolidation, and the downstream Chinese New Year holiday is in advance, the demand is not good. Therefore, the formaldehyde analyst of SunSirs expects that the recent formaldehyde price in Shandong will mainly fall in shock.

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