SunSirs: Shandong Paraformaldehyde Prices Fluctuated and Consolidated
January 05 2024 15:28:29 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the price of paraformaldehyde in Shandong has been fluctuating and consolidating recently. This week, the average production price of paraformaldehyde in Shandong was 4,900.00 RMB/ton, a decrease of 3.21% month on month and 9.26% year-on-year.
Analysis review
Upstream methanol situation: The domestic methanol market was operating in a narrow range. In terms of coal supply, due to the impact of the cold wave, most parts of the country have experienced a cliff like cooling, leading to a significant increase in daily consumption of power plants and an increase in terminal stage purchases. However, downstream acceptance of high priced market coal was limited, and transportation continued to rely mainly on long-term contract coal; The cold wave weather had to some extent boosted the consumption of electric coal, and there were still expectations of an increase in daily power plant consumption on the basis of high levels. Some terminal rigid demand purchases with insufficient coal reserves continued to be released, but the supply and demand pattern of the coal market, which was slightly loose in balance, had not changed. The cost of methanol was favorable factors for the market.
Market outlook
Recently, the methanol market has been consolidating, with average cost support and poor downstream demand. SunSirs' paraformaldehyde analysts predict that paraformaldehyde prices may mainly slightly decline.
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