SunSirs: Shandong Formaldehyde Market Prices Fluctuated and Consolidated
August 11 2023 10:23:28 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong was fluctuating and consolidating recently. This week, the average price of formaldehyde in Shandong was 1,160.00 RMB/ton, and the price decreased by 4.40% compared to last year.
Analysis review
Recently, the price of formaldehyde in the Shandong region fluctuated and consolidated. From the above chart, it can be seen that the recent formaldehyde market mainly fluctuated slightly, and this week's market remained relatively stable. As of August 10th, the mainstream market price in Shandong region was 1,120-1,260 RMB/ton. This week, the price of raw material methanol had shown an upward trend, but downstream panel factories had poor demand, market trading sentiment was average, formaldehyde manufacturers were shipping normally, and the market was fluctuating and consolidating.
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
Recently, there was an upward trend in the methanol market, with good cost support and a possible increase in formaldehyde. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly fluctuate and rise in the near future.
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- 2024-04-12 SunSirs: Shandong Formaldehyde Market Prices Fluctuated and Consolidated
- 2024-04-08 SunSirs: The Market Price of Formaldehyde in Shandong Had Slightly Declined
- 2024-03-29 SunSirs: The Formaldehyde Market in Shandong Had Slightly Increased in Price
