Price trend

According to the Commodity Market Analysis System of 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 1,186.67 RMB/ton. At the beginning of the week, the average price of formaldehyde in Shandong was 1,176.67 RMB/ton, a decrease of 0.84% compared to last week, and the price had dropped by 12.41% compared to last year.

Analysis review

Recently, the price of formaldehyde market in Shandong fluctuated and dropped. From the data of SunSirs, it can be seen that the recent market for formaldehyde has mainly fluctuated slightly, and this week's market declined. As of May 11, the mainstream market value price in Shandong was 1,120-1,280 RMB/ton. This week, the price of raw material methanol fell weakly, and downstream sheet metal factories had flat operating rates. On site demand support was average, and market trading sentiment was poor. Formaldehyde manufacturers were leading the decline in the formaldehyde market in order to ship.

Upstream methanol situation: The domestic methanol market fluctuated and declined, the reference factory price of methanol in Jining was around 2,300 RMB/ton, and the reference delivery price of methanol in Linyi was around 2,350 RMB/ton. The local methanol factory in central Shandong quoted a price of 2,400 RMB/ton for cash, while the reference price for the methanol market in Dongying, Shandong was 2,320-2,330 RMB/ton for cash.

Market outlook

Recently, the methanol market was weak and declining, with poor cost support. Downstream sheet factories maintained procurement on demand. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly fluctuate and decline in the near future.

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