SunSirs: The Shipment Was Difficult, Shandong Formaldehyde Market Price Consolidated
November 03 2022 09:46:16 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, Shandong's formaldehyde market was consolidated this week. The average price of Shandong's formaldehyde was 1,383.33 RMB/ton. The price rose 3.49% month on month, and the price fell 17.00% year on year.
Analysis review
The price of formaldehyde market in Shandong Province was stable this week. It can be seen from the figure above that the formaldehyde market in the past two months was dominated by a small upward trend, and the fluctuation of the market this week was not large. As of November 2, the price of formaldehyde in the mainstream market of Shandong was 1,350-1,400 RMB/ton. Recently, the methanol market was consolidated at a low level, cost support was general. The demand of downstream panel plants was not good, and the purchase was just based in needed. Influenced by the public security incident, the formaldehyde market was rarely traded, the manufacturer's shipment was stagnant, and the market was basically stable.
Upstream methanol: The domestic methanol market was weak and consolidated recently. Local transportation was limited, and some enterprises increased their inventories, which further aggravated the wait-and-see mood of traders. The supply side was abundant, the demand side did not improve, and the methanol market was difficult to improve.
Market outlook
Recently, the domestic methanol market has fluctuated at a low level, and the cost support is not good. The procurement of the downstream wood panel factory remains on demand. Therefore, formaldehyde analysts from SunSirs predict that in the short term, the price of formaldehyde in Shandong will mainly fall in shock.
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