Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1,216.67 RMB/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1,203.33 RMB/ton, a decrease of 1.10%. The price had decreased by 7.44% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and fallen. From the data from SunSirs, it can be seen that the formaldehyde market was mainly rising in the past two months, and this week's market declined. As of September 14th, the mainstream market price in Shandong region was 1,150-1,260 RMB/ton. This week, the price of raw material methanol showed a downward trend, with poor cost support. The formaldehyde market had light trading volume and the market continued to decline.

Upstream methanol situation: The domestic methanol market continued to decline, Inner Mongolia Chifeng Boyuan, Yulin Kaiyue, and two sets of devices in Shandong were on maintenance; Anhui Tanxin, Hebei Jinshi, Shaanxi Heimao, Wangcang Hezhong, and a set of device in Inner Mongolia had been restored. The overall recovery was greater than the loss, resulting in an increase in capacity utilization. The supply side of methanol had negative effect for the market. The cost was relatively weak, and in terms of supply and demand, there has been a breakthrough in pre holiday stocking. Methanol analysts from SunSirs predict that the domestic methanol market mainly fluctuate at high levels.

Market outlook

Recently, the methanol market was weak and declining, with poor cost support. Downstream panel factories had poor demand due to the impact of rainy weather. Therefore, formaldehyde analysts from t SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

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