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SunSirs: The Price of Paraformaldehyde in Shandong Fell

March 29 2023 10:42:04     SunSirs (John)

Price trend

In March, the price of paraformaldehyde in Shandong fell. At the beginning of the month, the average production price of paraformaldehyde in Shandong was 5,387.50 RMB/ton, while at the end of the month, the average production price of paraformaldehyde in Shandong was 5,325.00 RMB/ton, down 1.16%, and down 7.66% year-on-year.

Analysis review

Upstream methanol situation: In March, the domestic methanol market fluctuated slightly, and the overall coal market was temporarily stable in terms of cost. As the "peak season in winter" came to an end, the inventory of terminal power plants was steadily cashing in under the long-term agreement, and the power plants maintained the procurement of coal in the just needed market. The cost of methanol was mixed. Demand side, downstream acetic acid: Sinopec Great Wall expected maintenance, acetic acid demand may decrease; Downstream DME Yima Kaixiang plans to stop for 20 days on March 26, with demand for DME decreasing; Downstream chloride: Shandong Dongyue was expected to stop for maintenance, and Luxi Chemical was expected to have a reduced load, resulting in a decrease in chloride demand. The methanol demand side was temporarily negative.

Market outlook

Recently, the domestic methanol market has mainly experienced a narrow decline, with poor cost support, and weak market transactions. Paraformaldehyde analysts from SunSirs predict that the price may decline slightly..

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