SunSirs: Cost Support Was Weak and Paraformaldehyde Price in Shandong Was Stable
November 28 2022 14:07:43 SunSirs (John)
Price trend
In November, the price of paraformaldehyde in Shandong was stable. The average production price of paraformaldehyde in Shandong was 5,433.33 RMB/ton, the quotation was flat compared with last month, and the price dropped by 20.10% year-on-year.
Analysis review
Upstream methanol situation: domestic methanol market fluctuated slightly, mainly due to supply and demand. In terms of equipment, Yankuang Guojiao 250,000 t/a equipment was shut down for maintenance. The 1.2 million t/a unit of Shanxi Jinmei Huayu was restored, and the 100,000 t/a units of Shanxi Jinfeng, 100,000 t/a units of Shanxi Tianze and 400,000 t/a units of Shanxi Coking were planned to restart. The supply was abundant, but the existing demand had not been significantly boosted. In the short term, the domestic methanol market is mainly weak.
Market outlook
Recently, the methanol market has been weak and consolidated, with weak growth and general cost support. In addition, the transportation in Shandong is not smooth, and the market turnover is light. Paraformaldehyde analysts from SunSirs predict that the price may rise slightly.
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