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 1,210.00 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,196.67 RMB/ton, a decrease of 1.10%. The price had dropped by 2.97% year-on-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 February 21st, the mainstream market price in Shandong region was 1,150-1,240 RMB/ton. This week, the price of raw material methanol fluctuated weakly, with poor cost support. After the Spring Festival, downstream board factories had a low operating rate, and demand continued to be poor. The formaldehyde market mainly experienced a slight decline.

Upstream methanol situation: The domestic methanol market was operating with a narrow decline. Global coal supply remained stable, domestic imports had increased, and the increase in domestic demand was insufficient to support coal prices at high levels; In terms of demand, the overall pressure on inventory in power plants was relatively low, and terminals replenished inventory as needed. The demand for coal in the market was relatively flat, and the overall sentiment was wait-and-see. In the short term, the chemical coal market may maintain a volatile and weaker operation. The cost side had bearish factors for the methanol

Market outlook

Recently, the price of raw material methanol had been weak and consolidating, with poor cost support, resumption of downstream work was slow, and demand for formaldehyde was weak. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

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