SunSirs: Shandong Paraformaldehyde Price Declined
June 08 2023 14:00:38 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of the Business Society, the price of paraformaldehyde in Shandong recently fluctuated and decreased. At the beginning of the week, the average production price of paraformaldehyde in Shandong was 4,850.00 RMB/ton, and on the weekend, the average production price of paraformaldehyde in Shandong was 4,775.00 RMB/ton, a decrease of 1.55%, a month on month decrease of 5.68%, and a year-on-year decrease of 11.30%.
Analysis review
Upstream methanol situation: The domestic methanol market was weak and the support for methanol production costs was weakened. The Baofeng’s unit was recovering, the supply in mainland China was increasing, and the local formaldehyde load was decreasing, resulting in a decrease in methanol demand. As prices declined, traders and downstream sentiment weakened accordingly. The ex factory price of methanol in the southern region of Shandong was referenced to be around 2,130 RMB/ton, while the delivery price in Linyi was referenced to be around 2,150-2,170 RMB/ton. The local methanol factory in central Shandong quoted a price of 2,150-2,190 RMB/ton for self delivery. The negotiation range of methanol market price in Dongying, Shandong Province was 2,080-2,090 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. Business Society's paraformaldehyde analysts predict that the price of paraformaldehyde may decline slightly.
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