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 1,166.67 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,153.33 RMB/ton, a decrease of 1.14%. The price has dropped by 4.42% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and fallen. From the above chart, it can be seen that the formaldehyde market had mainly fluctuated slightly in the past two months, and this week the market continued to decline slightly. As of January 11th, the mainstream market price in Shandong region was 1,060-1,200 RMB/ton. This week, the price of raw material methanol fluctuated, with poor cost support. The Spring Festival is approaching, and downstream sheet metal factories are taking early leave. Demand continued to decline, and the formaldehyde market was mainly experiencing a slight decline.

Upstream methanol situation: The domestic methanol market was operating in a narrow range. In terms of supply, global coal supply was stable, domestic imports had increased, and the increase in domestic demand was not enough to support coal prices to operate at high levels; In terms of demand, the overall pressure on inventory in power plants was relatively low. As of January 11th, the terminal mainly relied on long-term cooperative replenishment, with on-demand replenishment. The demand for coal in the market was relatively flat, and the overall sentiment was wait-and-see. The short-term coal market maintained a weak operation. The cost side of methanol was influenced by bearish factors.

Market outlook

Recently, the methanol market had been consolidating, with poor cost support. Downstream panel factories had been taking a break, and the formaldehyde operating rate had also continued to decline. Market trading had been light, so formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

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