Price trend

According to the monitoring data of SunSirs, the market price of formaldehyde in Shandong rose slightly in January. The average price of formaldehyde in Shandong at the beginning of the month was 1,200.00 RMB/ton, and the average price of formaldehyde in Shandong at the end of the month was 1,206.67 RMB/ton, up 0.56%. The current price fell 1.69% year-on-year.

Analysis review

In January, the market price of formaldehyde in Shandong rose slightly. From the monitoring data of SunSirs, it can be seen that formaldehyde has been falling mainly in the past three months, and the price has rebounded this month. As of January 29, the mainstream market price in Shandong was 1,170-1,300 RMB/ton. In January, around the Spring Festival, many formaldehyde manufacturers had holidays in advance, and the formaldehyde shipments were general. The formaldehyde market rose slightly with the upstream methanol.

Upstream methanol: The domestic methanol market rose in January, mainly due to supply and demand. In February, imports will decrease significantly. The first phase of methanol plant of Ningxia's main enterprises is planned to stop after the Spring Festival. There is an expectation of destocking at the port. The downstream recovery after the festival is promising, and the methanol market is expected to rise.

In January, the methanol market fluctuated and rose. Before the Spring Festival, the downstream plate factories were mostly faced with the lack of workers and the lack of transport workers, and entered the holiday stage ahead of time. The formaldehyde manufacturers mainly took the holiday at the same time, and the formaldehyde market rose slightly driven by methanol.

Market outlook

Recently, the domestic methanol market has risen, and the cost support is good. Therefore, the formaldehyde analyst of SunSirs expects that the price of formaldehyde in Shandong will mainly rise in the near future.

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