Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong had recently risen. At the beginning of the week, the average price of formaldehyde in Shandong was 1,140.00 RMB/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1,160.00 RMB/ton, an increase of 1.75%. The price had decreased by 4.40% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had slightly increased. From the above chart, it can be seen that the recent market for formaldehyde mainly fluctuated slightly, with an increase this week. As of August 3rd, the mainstream market price in Shandong region was 1,120-1,260 RMB/ton. This week, the price of raw material methanol showed an upward trend, but downstream panel factories had poor demand, and market trading sentiment was average. Formaldehyde manufacturers were shipping normally, and the market had slightly increased with costs.

Upstream methanol situation: The domestic methanol market had stabilized at a high level, while coal prices had risen narrowly, providing some support for market prices; Some traditional downstream devices experienced a narrow increase in operation, and demand had slightly improved. Short-term supply was abundant, cost support was stable, and downstream demand was gradually increasing. Methanol analysts from SunSirs predict that the domestic methanol market may rise again.

Market outlook

Recently, there was an upward trend in the methanol market, with good cost support. Downstream panel factories had poor operating rates due to high temperatures, and the formaldehyde market transactions were average. Therefore, formaldehyde analysts from SunSirs predict that the formaldehyde prices in Shandong will mainly fluctuate and rise in the near future.

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