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 1,206.67 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,216.67 RMB/ton, an increase of 0.83%. The price had decreased by 12.68% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region fluctuated and increased. From the above chart, it can be seen that the formaldehyde market mainly fluctuated slightly in the past two months, with a slight rebound this week. As of October 18th, the mainstream market price in Shandong region was 1,120-1,330 RMB/ton. This week, the price of raw material methanol showed a slight downward trend, with poor cost support. Downstream purchases remained in demand, while transactions in the formaldehyde market were flat, with mixed market fluctuations and consolidation.

Upstream methanol situation: The domestic methanol market had slightly declined. Most coal mines in the main production areas maintained normal production and sales. Except for some mines that were still under rectification, the overall supply was basically stable. The cost of methanol was influenced by favorable factors. Affected by the trend of commodities, the methanol futures market fell, and the atmosphere in the mainland market quickly weakened, leading to a decline in the methanol market.

Market outlook

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

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