SunSirs: Shandong Formaldehyde Market Prices Fluctuated and Consolidated

Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong had recently risen. At the beginning of the week, the average price of formaldehyde in Shandong was 1,076.67 RMB/ton, and at the end of the week, the average price of formaldehyde in Shandong was 1,110.00 RMB/ton, an increase of 3.10%. The price had decreased by 8.52% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region was relatively stable and rising. From the above chart, it can be seen that the recent formaldehyde market mainly fluctuated slightly, with a weekly increase or decrease of no more than 2%. This week's market had slightly increased. As of July 14th, the mainstream market price in Shandong region was 1,020-1,160 RMB/ton. This week, the price of raw material methanol stabilized after rising, while downstream off-season procurement remained in demand. Formaldehyde was mainly driven by rising costs, with a slight increase in the market.

Upstream methanol situation: The domestic methanol market situation had been sorted out. The ex factory price of methanol in the southern region of Shandong was referenced to be around 2,310-2,330 RMB/ton in cash, while the delivery price in Linyi was referenced to be around 2,350-2,360 RMB/ton in cash. The local methanol factory in central Shandong offered a price of 2,400-2,400 RMB/ton for self delivery. The negotiated price range for methanol in the Dongying region of Shandong was 2,280-2,280 RMB/ton.

Market outlook

After the recent rise in methanol prices, it temporarily stabilized. However, downstream sheet factories had poor operating rates due to high temperatures, and their acceptance of goods was not high, resulting in poor transactions on the market. Therefore, formaldehyde analysts from SunSirs predict that formaldehyde prices in Shandong will mainly fluctuate and fall in the near future.

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