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 1,173.33 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,170.00 RMB/ton, a decrease of 0.28%. The price had dropped by 10.91% year-on-year.

Analysis review

Recently, the price of formaldehyde in the Shandong region had fluctuated and fallen. From the above chart, it can be seen that the formaldehyde market had mainly fluctuated slightly in the past two months, with a slight decline this week. As of December 7th, the mainstream market price in Shandong region was 1,100-1,220 RMB/ton. This week, the price of raw material methanol fluctuated and stabilized, with average cost support and poor downstream demand. The market trading atmosphere was relatively quiet, and the market trend declined.

Upstream methanol situation: The methanol market had rebounded and fluctuated. In terms of supply, global coal supply was stable, domestic imports had increased, and the increase in domestic demand was not enough to support coal prices to operate at high levels; In terms of demand, the overall pressure on inventory in power plants was relatively low. As of December 7th, the terminal mainly relied on long-term replenishment and replenished inventory according to demand. The demand for coal in the market was relatively flat, and the overall sentiment was wait-and-see. The domestic methanol market situation was mainly sorted out.

Market outlook

In recent times, the methanol market had been weak and consolidating, with poor cost support and weak transactions in the formaldehyde market. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly fall below.

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