Price trend
According to monitoring data from SunSirs, the formaldehyde market in Shandong has been fluctuating and declining recently. At the beginning of the week, the average price of formaldehyde in Shandong was 1,223.33 RMB/ton, while on the weekend, the average price of formaldehyde in Shandong was 1,200.00 RMB/ton, a decrease of 1.91%. The price decreased by 15.94% compared to last year.
Analysis review
Recently, the price of formaldehyde market in Shandong has fluctuated and dropped. It can be seen from the figure above that the recent market of formaldehyde mainly fluctuated slightly, and this week's market declined. As of April 6, the mainstream market value price in Shandong was 1,130-1,280 RMB/ton. This week, the price of raw material methanol fell weakly, and the market trading sentiment was average. Formaldehyde manufacturers had a high willingness to ship in order to maintain controllable inventory, resulting in a fluctuating downward market.
Upstream methanol situation: The domestic methanol market was fluctuating and declining. The raw material coal market was mainly on a wait-and-see basis, with a lack of positive support on the cost side. At the same time, the buying performance in the spot market was weak, and the methanol market was consolidated to be weaker. The factory quotation of enterprises in the central and eastern parts of Shandong was stable at 2,480-2,530 RMB/ton; The delivery price for Dongying and surrounding areas was around 2,430 RMB/ton. The mainstream production of methanol in the southern Shandong market was around 2,420 RMB/ton; The delivery price in Linyi area was around 2,450-2,470 RMB/ton.
Market outlook
Recently, the methanol market has been weak and declining, with poor cost support. Downstream sheet metal factories have weak demand. Therefore, formaldehyde analysts from SunSirs predict that the t price of formaldehyde in Shandong will mainly fluctuate and decline in the near future.
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