SunSirs: The Formaldehyde Market in Shandong Fluctuated and Consolidated
September 28 2023 14:05:58 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong fluctuated and consolidated in September. At the beginning of the month, the average price of formaldehyde in Shandong was 1,216.67 RMB/ton, and at the end of the month, the average price of formaldehyde in Shandong was 1,206.67 RMB/ton, a decrease of 0.82%. The price had decreased by 9.73% compared to last year.
Analysis review
In September, the price of formaldehyde in the Shandong region fluctuated and consolidated. From the data from SunSirs, it can be seen that the formaldehyde market had been rising since the end of June, with slight fluctuations this month. As of September 26th, the mainstream market price in Shandong region was 1,150-1,260 RMB/ton. In September, the raw material methanol market first fell and then rose. Formaldehyde manufacturers started operating normally, while downstream panel factories mainly maintained rigid demand. Production enterprises had high shipping pressure, and formaldehyde mainly fluctuated with the fluctuations of raw materials, but the fluctuations were relatively small.
Upstream methanol situation: In September, the domestic methanol market first fell and then rose. The reason for the previous decline was the weakening of the methanol futures market, which affected the cautious mentality of traders. The speed of picking up methanol slowed down, and the inventory of production enterprises increased, and the domestic methanol market narrowly weakened. The reason for the later increase was that the raw coal provided strong support, downstream demand was relatively stronger, and pre holiday stocking and downstream product operating rates were both somewhat positive.
Market outlook
Recently, the domestic methanol market was mainly fluctuating and declining, and cost support was poor, and the demand from downstream plate factories was average. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline slightly in the near future.
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