SunSirs: Paraformaldehyde Price in Shandong Fluctuated and Consolidated
August 11 2023 09:29:40 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the prices of paraformaldehyde in Shandong were fluctuating and consolidating recently. This week, the average production price of paraformaldehyde in Shandong was 5,475.00 RMB/ton, an increase of 16.18% month on month and 3.30% year-on-year.
Analysis review
Upstream methanol situation: The domestic methanol market was fluctuating and rising. The main factor driving the price increase this time was the demand side. A large downstream MTO device might be in operation, and the demand side was good. In addition, the macroeconomic benefits had also played a certain driving role. At the same time, there was a significant destocking of port inventory, and the methanol market was gradually improving.
Market outlook
After the recent rise in the methanol market, it had been temporarily sorted out, with good cost support. There was a high probability that paraformaldehyde would keep up with the increase, and paraformaldehyde analysts from SunSirs predict that the paraformaldehyde price may mainly increase slightly.
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