SunSirs: Shandong Paraformaldehyde Price Declined
November 20 2023 10:50:33 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of paraformaldehyde in Shandong recently fluctuated and declined. At the beginning of the week, the average production price of paraformaldehyde in Shandong was 5,125.00 RMB/ton, and on the weekend, the average production price of paraformaldehyde in Shandong was 5,100.00 RMB/ton, a decrease of 0.49%, a month on month decrease of 3.32%, and a year-on-year decrease of 6.13%.
Analysis review
Upstream methanol situation: In terms of supply, global coal supply was stable, domestic imports had increased, and the increase in domestic demand was not enough to support the operation of coal prices at high levels; In terms of demand, the overall pressure on inventory in power plants was relatively low. As of November 17th, the terminal mainly relied on long-term replenishment and replenishment according to demand. The demand for coal in the market was relatively flat, and the overall sentiment was biased towards wait-and-see. The methanol was influenced by bearish factors from cost side. Downstream demand was expected to increase, but fundamental contradictions were still not significant. The domestic methanol market was mainly fluctuating and consolidating.
Market outlook
Recently, the methanol market had been fluctuating and consolidating, with average cost support. Paraformaldehyde manufacturers were shipping normally, and paraformaldehyde analysts from SunSirs predict that paraformaldehyde prices may mainly decline slightly.
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