SunSirs: The Market Price of Formaldehyde in Shandong Province Rose
September 22 2023 10:38:49 SunSirs (John)
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 1,203.33 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,206.67 RMB/ton, an increase of 0.28%. The price had dropped by 9.73% compared to last year.
Analysis review
Recently, the price of formaldehyde in the Shandong region had fluctuated and increased. According to data from SunSirs, the formaldehyde market was mainly on the rise in the past two months, and the market had continued to rise this week. As of September 21st, the mainstream market price in Shandong region was 1,150-1,260 RMB/ton. This week, the price of raw material methanol showed an upward trend, with good cost support. The formaldehyde market had slightly improved in trading, and manufacturers had stabilized their shipments, resulting in a slight increase in the market.
Upstream methanol situation: The domestic methanol market was on the rise, driven by demand, and the methanol market continued to improve, with a significant increase in order volume. The market atmosphere was relatively high, and shipments were smooth. In terms of supply and demand, there was a breakthrough in pre holiday stocking. Methanol analysts from SunSirs predict that the domestic methanol market will mainly experience fluctuations on a high level.
Market outlook
The recent methanol market may decline, with poor cost support. Downstream panel factories have weak demand and formaldehyde shipments are under pressure. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.
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