SunSirs: The Market Price of Formaldehyde in Shandong Had Slightly Increased

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 1,200.00 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,212.50 RMB/ton, an increase of 1.25%. The price had increased by 2.75% year-on-year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and risen. From the above chart, it can be seen that the formaldehyde market had mainly fluctuated slightly in the past two months, and this week's market had risen. As of April 18th, the mainstream market price in Shandong region was 1,150-1,300 RMB/ton. This week, the price of raw material methanol had risen narrowly, with good cost support. Downstream procurement had been maintained on demand, while formaldehyde manufacturers were producing normally, and the market had followed suit.

Upstream methanol situation: The domestic methanol market was mainly experiencing a narrow upward trend. In recent times, there had been little contradiction in the fundamentals of methanol. As of April 18th, the domestic methanol plant was still operating at a high level, and there was some resistance from downstream towards high prices. However, the inventory of sample enterprises in mainland China was relatively low, and there was not much pressure on them to ship. In addition, some enterprises were outsourcing, and the overall market atmosphere was still acceptable. The weak pattern of coal prices continued, and costs temporarily lacked strong support for the market. The basic supply-demand contradiction was not prominent, and the strength of spring inspections in mainland China still needed attention. The domestic methanol market price will mainly consolidate in the short term.

Market outlook

Recently, the price of raw material methanol had shown an upward trend, while the price of formaldehyde was low and there was room for improvement. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will be slightly higher in the near future.

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