SunSirs: Poor Cost Support, Shandong Formaldehyde Market Price Fell
December 02 2022 10:16:33 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the formaldehyde market in Shandong has fallen recently. At the beginning of the week, the average price of formaldehyde in Shandong was 1,343.33 RMB/ton, and at the weekend, the average price of formaldehyde in Shandong was 1,326.67 RMB/ton, down 1.24%. The current price fell 5.69% 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 has started to decline. As of December 1, the mainstream market price in Shandong was 1,280-1,400 RMB/ton. Recently, the logistics in some regions began to transport, but the transportation in most other regions was still not smooth. Affected by public security incidents, downstream factories had low operating rate and weak demand. Formaldehyde market transactions were light and the market was weak.
Upstream methanol situation: Recently, the domestic methanol market was mainly weak, mainly due to the low demand and general trading atmosphere. At the same time, the supply was relatively abundant, and the contradiction between supply and demand was still an important factor restricting the development of the methanol market. In the short term, the methanol market may be weak sorted out.
Market outlook
Recently, the methanol market was weak and low, and the transportation in Shandong was not smooth. Therefore, formaldehyde analysts from SunSirs predict that the recent price of formaldehyde in Shandong will mainly fall in shock.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
