SunSirs: The Market Price of Formaldehyde in Shandong Rose

Price trend

According to the commodity market analysis system of SunSirs, the formaldehyde market in Shandong had recently risen. At the beginning of the week, the average price of formaldehyde in Shandong was 1,203.33 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,210.00 RMB/ton, an increase of 0.55%. The price had dropped by 2.94% year-on-year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had slightly increased. From the above chart, it can be seen that the formaldehyde market had been mainly fluctuating slightly, with an increase this week. As of February 1st, the mainstream market price in Shandong region was 1,150-1,280 RMB/ton. This week, the price of raw material methanol had shown an upward trend, but downstream panel factories had poor demand, and market trading sentiment was average. Formaldehyde manufacturers were shipping normally, and the market was slightly rising with costs.

Upstream methanol situation: The domestic methanol market was operating with a narrow upward trend. During the week, there were relatively few socially available spot goods, coupled with the impact of weather and other factors on unloading speed. At the same time, the transportation cost from the northwest production area to the sales area market increased, leading to a significant increase in domestic methanol prices. As supply gradually recovered, downstream receiving sentiment was average, and the market was mainly wait-and-see.

Market outlook

Recently, the price of raw material methanol had risen, with good cost support. However, due to the impact of the Spring Festival holiday, the demand for on-site consumer terminals had continued to be poor, and the transaction volume in the formaldehyde market was average. Therefore, the formaldehyde analyst of SunSirs predicts that the formaldehyde price in Shandong will mainly fluctuate and consolidate in the near future.

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