Price trend

According to the Commodity Market Analysis System of Business Society, the formaldehyde market in Shandong recently declined. This week, the average price of formaldehyde in Shandong was 1,096.67 yuan/ton, a decrease of 0.60% compared to last week, and the price had decreased by 13.65% compared to last year.

Analysis review

Recently, the price of formaldehyde market in Shandong fluctuated and dropped. It can be seen from the above figure that the recent market of formaldehyde mainly fluctuated slightly, and the market continued to decline this week. As of June 7, the mainstream market price in Shandong was 990-1,200 yuan/ton. This week, the price of raw material methanol fell weakly, and the market trading sentiment was average. Formaldehyde manufacturers continued to lead the market downward in order to ship.

Upstream methanol situation: The domestic methanol market was weak and the support for methanol production costs was weakened. The Baofeng’s unit was recovering, the supply in mainland China was increasing, and the local formaldehyde load was decreasing, resulting in a decrease in methanol demand. As prices declined, traders and downstream sentiment weakened accordingly. The ex factory price of methanol in the southern region of Shandong was referenced to be around 2,130 yuan/ton, while the delivery price in Linyi was referenced to be around 2,150-2,170 yuan/ton. The local methanol factory in central Shandong quoted a price of 2,150-2,190 yuan/ton for self delivery. The negotiation range of methanol market price in Dongying, Shandong Province was 2,080-2,090 yuan/ton.

Market outlook

Recently, the methanol market was weak and declining, with poor cost support. Downstream sheet factories have had poor resumption of work due to rainy weather. Therefore, formaldehyde analysts from the Business Society predict that formaldehyde prices in Shandong will mainly fluctuate and fall in the near future.

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