SunSirs: The Market Price of Formaldehyde in Shandong Had Slightly Increased

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 1,193.33 RMB/ton, and at the end of the week, the average price of formaldehyde in Shandong was 1,196.67 RMB/ton, an increase of 0.28%. The price had decreased by 13.49% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region fluctuated and increased. From the above chart, it can be seen that the formaldehyde market has mainly fluctuated slightly in the past two months, and the market continued to fluctuate this week. As of November 3rd, the mainstream market price in Shandong region was 1,120-1,260 RMB/ton. This week, the price of raw material methanol fluctuated and consolidated, with average 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 saw a narrow range consolidation and operation in. The expectation of olefin outsourcing has not been met, and market sentiment has rapidly weakened. However, there was good demand in Xinjiang, which to some extent supported shipments from the main production areas in the northwest, and there was not much pressure on methanol manufacturers in the northwest to ship; Methanol manufacturers in the Guanzhong region had a certain demand for shipment, and their prices decreased. With the support of good demand in surrounding markets, shipments were mainly smooth.

Market outlook

The recent methanol market may fall, with poor cost support. It is difficult for downstream sheet metal factories to significantly increase 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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