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

Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong had recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1,186.67 RMB/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1,183.33 RMB/ton, a decrease of 0.28%. The price had decreased by 12.35% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region fluctuated and declined. From the above chart, it can be seen that the formaldehyde market had mainly fluctuated slightly in the past two months, with a decline this week. As of November 17th, the mainstream market price in Shandong region was 1,100-1,260 RMB/ton. This week, the price of raw material methanol fluctuated and consolidated, with average cost support. Formaldehyde manufacturers actively shipped, but the market trading atmosphere was relatively cold and the market declined.

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 weak and consolidating, with poor cost support and significant pressure on formaldehyde inventory. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

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