SunSirs: Shandong Paraformaldehyde Price Declined
May 06 2023 13:44:30 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the prices of paraformaldehyde in Shandong have been fluctuating and declining recently. At the beginning of the week, the average production price of paraformaldehyde in Shandong was 5,162.50 RMB/ton, and on the weekend, the average production price of paraformaldehyde in Shandong was 5,062.50 RMB/ton, a decrease of 1.94%, a month on month decrease of 4.71%, and a year-on-year decrease of 9.06%.
Analysis review
Upstream methanol situation: The domestic methanol market was fluctuating and declining, with the raw material coal market mainly on a wait-and-see basis. The cost side lacked positive support, and the spot buying performance was weak, leading to a decline in the methanol market.
The methanol market in the southwest region declined, with some mainstream enterprises in Sichuan and Chongqing negotiating export prices of around 2,300-2,400 RMB/ton; The focus of some trade negotiations in Chengdu was around 2,460-2,520 RMB/ton. The methanol market in the Hunan and Hubei regions declined, with some enterprises in Hubei negotiating a reference price of around 2,555-2,570 RMB/ton; The reference prices quoted by some traders in Hunan were around 2,660-2,700 RMB/ton.
Market outlook
Recently, the methanol market was weak and declining, with poor cost support. Downstream demand is unlikely to change significantly in the short term. SunSirs’ paraformaldehyde analysts predict that the price of paraformaldehyde may mainly decline slightly.
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