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SunSirs: Shandong Paraformaldehyde Price Fluctuated and Consolidated

March 29 2024 11:05:29     SunSirs (John)

Price trend

According to the commodity market analysis system of SunSirs, the price of paraformaldehyde in Shandong fluctuated and stabilized in March. At the beginning of the month, the average production price of paraformaldehyde in Shandong was 4,750.00 RMB/ton, and at the end of the month, the average production price of paraformaldehyde in Shandong was 4,762.50 RMB/ton, an increase of 0.26%, and a year-on-year decrease of 10.56%.

Analysis review

Upstream methanol situation: In March, the domestic methanol market rose, with equipment maintenance in Yulin Kaiyue, Xinxiang Zhongxin, Yunnan Yuntianhua, Gansu Huating, and Inner Mongolia Jiutai; Shandong Mingshui, Jiutai New Materials (Tuoxian), Qitaihe Baotailong, and Xinjiang Zhongtai had reduced production; Jiuyuan Chemical and Qitaihe Baotailong facilities had been restored. The loss was greater than the recovery, resulting in a decrease in capacity utilization. The supply side of methanol was influenced by favorable factors. The supply of goods continued to be abundant, and traditional downstream demand may increase. MTO needs to pay attention to the maintenance status of an MTO device in East China. SunSirs’ analysts predict that in the short term, the domestic methanol market prices will be on the rise.

Market outlook

Recently, the price of raw material methanol has consolidated, and downstream procurement had been maintained on demand. SunSirs' paraformaldehyde analysts predict that the paraformaldehyde price may mainly fluctuate.

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