Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong fluctuated and fell in May. At the beginning of the month, the average price of formaldehyde in Shandong was 1,186.67 RMB/ton, and at the end of the month, the average price of formaldehyde in Shandong was 1,146.67 RMB/ton, a decrease of 3.37%. The price decreased by 11.79% compared to last year.

Analysis review

In May, the market price of formaldehyde in Shandong Province declined. According to the data from SunSirs, formaldehyde has mainly declined in shock for more than two months, and the market continued to decline this month. As of May 25, the mainstream market value price in Shandong was 1,100-1,250 RMB/ton. In May, the raw material methanol experienced a broad decline, and formaldehyde manufacturers started operating normally. However, downstream panel factories had weak demand. The pressure on formaldehyde shipment was high, and inventory continued to be high, resulting in a continuous decline in the formaldehyde market.

Upstream methanol situation: In May, the domestic methanol market declined, with the reference factory price of methanol in the southern region of Shandong being around 2,150 RMB/ton, and the reference delivery price in Linyi being around 2,190 RMB/ton. The local methanol factory in central Shandong quoted a price of 2,300 RMB/ton for self delivery from the factory. The negotiated price for methanol in the Dongying area of Shandong was between 2,160 and 2,170 RMB/ton. The market atmosphere continued to be weak. After the futures price fell below the integer threshold of 2,200 RMB/ton, the market sentiment became less confident. At the same time, the raw coal was still weak, the downstream demand was weak for a long time, the social inventory of the methanol market continued to accumulate, the source of imported goods also continued to pour in, and the spot market price of methanol dropped again and again.

Market outlook

Recently, the methanol market was mainly declining, and downstream plate factories were cautious in purchasing goods, resulting in a decline in market transactions. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will be mainly weak and downward in the near future.

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