SunSirs: Poor Transportation, Shandong Formaldehyde Market Fell

Price trend

According to the monitoring data of SunSirs, the formaldehyde market in Shandong rose first and then fell in November. At the beginning of the month, the average price of formaldehyde in Shandong was 1,383.33 RMB/ton. At the end of the month, the average price of formaldehyde in Shandong was 1,343.33 RMB/ton, down 2.89%, and the price fell 8.41% year on year.

Analysis review

In November, the market price of formaldehyde in Shandong fell. From the monitoring data of SunSirs, it can be seen that formaldehyde had not fluctuated much in the past three months. It began to fall this month. As of November 28, the mainstream market price in Shandong was 1,280-1,400 RMB/ton. In November, the domestic methanol market was in shock. Affected by the public security incident, the transportation in Shandong was not smooth. The downstream plate factory maintained its procurement on rigid demand. The formaldehyde shipment was poor, and the formaldehyde market fell.

Upstream methanol: In November, the domestic methanol market fluctuated slightly, mainly due to supply and demand. There was abundant supply and little change in demand. The transportation in some areas was not smooth. Methanol analysts of SunSirs predict that the domestic methanol market may be sorted out mainly.

In November, the methanol market fell in shock, and public safety incidents continued to repeat. Affected by this, the downstream plate factories started to work on a low level. They maintained a strong wait-and-see mood and were cautious in purchasing. The atmosphere of market negotiation was light. The formaldehyde market mainly declined slightly.

Market outlook

Recently, there was no major change in the domestic methanol market, and the cost support was fair. Therefore, formaldehyde analysts from SunSirs predicted that the price of formaldehyde in Shandong would be mainly explored upward by a small margin in the recent period.

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