Price trend

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong had recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1,193.33 RMB/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1,186.67 RMB/ton, a decrease of 0.84%. The current price has decreased by 14.22% compared to last year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and declined. From the above chart, it can be seen that the formaldehyde market mainly fluctuated slightly in the past two months, with a decline this week. As of November 8th, the mainstream market price in Shandong region was 1,100-1,260 RMB/ton. This week, the price of raw material methanol fluctuated and consolidated, with average cost support. The formaldehyde market had light trading volume, manufacturers were facing difficulties in shipping, inventory pressure was high, and the market had slightly declined.

Upstream methanol situation: the domestic methanol market was consolidated with a narrow range. On December 7th, the Shanxi coking plant was shut down for maintenance, and the coal price fluctuated weakly, with no cost support for the market. Domestic supply was gradually recovering, and downstream demand may change or be limited. Methanol analysts from SunSirs predict that the domestic methanol market may be in a weak position to consolidate and operate.

Market outlook

Recently, the methanol market had been weak and consolidating, with poor cost support. Downstream panel factories had weak demand and weak procurement. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.