SunSirs: The Price of Paraformaldehyde in Shandong Had Fallen
January 12 2024 14:39:47 SunSirs (John)
Price trend
According to the commodity market analysis system of SunSirs, the price of paraformaldehyde in Shandong had been fluctuating and consolidating recently. At the beginning of the week, the average production price of paraformaldehyde in Shandong was 4,900.00 RMB/ton, and over the weekend, the average production price of paraformaldehyde in Shandong was 4,850.00 RMB/ton, a decrease of 1.02% and a year-on-year decrease of 10.19%.
Analysis review
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, there had been a slight fluctuation in the methanol market, with average cost support. Downstream purchases were still in demand, and paraformaldehyde analysts from SunSirs predict that paraformaldehyde prices may mainly decline slightly.
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