Price trend

According to the data of SunSirs, the formaldehyde Market in Shandong Province has been stable recently. The average price of formaldehyde is 1,060.00 RMB/ton. The current price is down 11.30% year on year.

Analysis review        

Product: The domestic formaldehyde market price is stable. As of the 25th, the mainstream factory quotation in Hebei is about 980 RMB/ton, the mainstream factory quotation in South China is about 1,180 RMB/ton, the mainstream factory quotation in Shandong is about 1,000 RMB/ton, and the mainstream factory quotation in Jiangsu is 1,130 RMB/ton. The annual output of 120000 tons formaldehyde plant in Linyi Yinhe, Shandong Province has been restarted, with the formaldehyde content of 36.7-37%. Linyi Jinyuan Chemical has two formaldehyde production lines with an annual production capacity of 80000 tons and formaldehyde content of 37%. The plant has been restarted. More restarts of formaldehyde devices, sufficient supply of formaldehyde inventories in the market, flat trading atmosphere in the formaldehyde market, the pressure on various companies to ship, and prices remained stable.

Industrial chain: The domestic methanol market continues to be weak, with local prices falling slightly. As for the mainland market, the overall change has been small, and the demand side has remained light. Some companies have made small gains due to weak shipments. It is reported that under the red warning in Henan, some downstream enterprises have stopped production and vehicle transportation is also restricted, which requires continuous attention. In the port market, inventory continued to decline, the market fluctuated in a narrow range, and the overall change was relatively small, but after the port price rose, and closed with the mainland arbitrage, the shipments weakened, which has limited support for formaldehyde. The downstream market is affected by the environmental protection regulation, the overall operating rate is average, the rigid purchase is maintained, and the formaldehyde price is adjusted.

Market outlook

Recently, methanol in the upstream has been sorted in a narrow range, with little fluctuation in cost, light market trading, general operating rate in the downstream market, and weak support in demand and cost. Therefore, formaldehyde analysts of SunSirs predict that the domestic formaldehyde price may be dominated by consolidation at a low level in the near future.

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