SunSirs: Shandong Formaldehyde Market Price Fluctuated and Fell

Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong was fluctuating and declining recently. At the beginning of the week, the average price of formaldehyde in Shandong was 1,200.00 RMB/ton, and at the end of the week, the average price of formaldehyde in Shandong was 1,180.00 RMB/ton, a decrease of 1.67%. The current price decreased by 15.86% compared to last year.

Analysis review

Recently, the price of formaldehyde market in Shandong fluctuated and dropped. It can be seen from the data of SunSirs that the recent market of formaldehyde had been mainly declining, and this week's market continued to decline. As of April 13, the mainstream market value price in Shandong was 1,130-1,280 RMB/ton. This week, the overall price of raw material methanol had shown a downward trend, and formaldehyde manufacturers had a high willingness to ship in order to maintain inventory controllable. The downstream receiving sentiment was not good, and the market was fluctuating and declining.

The domestic methanol market was fluctuating and declining, while the overall coal market was sluggish. Downstream products had weak demand for coal in the market, and overall sentiment was mainly wait-and-see. The cost of methanol was relatively weak. The methanol market in Dongying, Shandong negotiated a price of 2,390-2,410 RMB/ton for delivery. The methanol market in the Zibo region of Shandong Province had negotiated a delivery price of 2,400-2,420 RMB/ton, while the local methanol factory in central Shandong had quoted a delivery price of 2,480-2,500 RMB/ton. The factory price reference for Jining methanol was around 2,420-2,440 RMB/ton for factory delivery, while the delivery price reference for Linyi was around 2,460-2,500 RMB/ton.

Market outlook

Recently, the methanol market has slightly rebounded, and cost support is still acceptable. Downstream panel factories have rebounded in their purchasing sentiment. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly fluctuate and rise in the near future.

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