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 1,170.00 RMB/ton, and at the beginning of the week, the average price of formaldehyde in Shandong was 1,160.00 RMB/ton, a decrease of 0.85% compared to last week. The price dropped by 12.12% year-on-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 mainly fluctuated slightly, and this week's market was lower. As of May 22nd, the mainstream market formaldehyde price in Shandong region was 1,120-1,200 RMB/ton. This week, the price of raw material methanol fluctuated slightly, with average support for formaldehyde. The operating rate of downstream panel factories was flat, and the demand support for formaldehyde was average. The market trading sentiment was poor, and the formaldehyde market fell.

Upstream methanol situation: The domestic methanol market significantly declined, and the market atmosphere continued to be weak. After the futures price fell below the integer threshold of 2,200 RMB/ton, the market sentiment became less confident. At the same time, the raw coal was still weak, the downstream demand was weak for a long time, the social inventory of the methanol market continued to accumulate, the source of imported goods also continued to pour in, and the spot market price of methanol dropped again and again.

Market outlook

Recently, the methanol market was fluctuating, downstream sheet metal factories maintained just in demand procurement, and the market transactions were flat. Therefore, formaldehyde analysts from SunSirs predict that the recent price of formaldehyde in Shandong will mainly fluctuate and decline.

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