SunSirs: Poor Downstream Demand, Shandong Formaldehyde Market Price Fell
November 16 2022 10:36:51 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the market price of formaldehyde in Shandong dropped recently. The average price of formaldehyde in Shandong was 1,383.33 RMB/ton on the 8th and 1,350.00 RMB/ton on the 15th, down 2.41%. The price dropped 14.92% year on year.
Analysis review
Recently, the formaldehyde market price in Shandong has fallen. From the figure above, we can see that the formaldehyde market has not fluctuated much recently, and this week the market started to decline. As of November 15, the mainstream market price in Shandong was 1,300-1,400 RMB/ton. Recently, the logistics in some regions began to transport, but in most other regions, the transportation was still not smooth. The downstream operation rate was not good, and the purchase was just based in needed. The formaldehyde market negotiation was flat, the transaction was not good, and the market was weak and falling.
Upstream methanol: the market in East China fluctuated slightly. The futures market rose, the production facilities of major enterprises in some regions were shut down, and the supply decreased. Methanol manufacturers tried to push up, but the downstream inquiry and transaction atmosphere was not active. Methanol market was weak, with limited support for the cost of formaldehyde.
Market outlook
Recently, environmental protection inspections have been carried out frequently in some regions of Shandong, and the downstream demand has not improved significantly, and purchased just on demand. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong Province will fall mainly by shocks in the near future
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