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 1,240.00 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,237.50 RMB/ton, a decrease of 0.20%. The price has increased by 5.77% 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. This week, the market had slightly increased and then rebounded. As of May 15th, the mainstream market price in Shandong region was 1,200-1,300 RMB/ton. This week, the price of raw material methanol fluctuated and consolidated, with weak cost support. The operating rate of mainstream downstream plate factories is expected to decline, and the support for formaldehyde production was weak. Some formaldehyde production enterprises had accumulated inventory expectations, and the market was mainly slightly downward.

Upstream methanol situation: The domestic methanol market had seen a narrow decline. 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 continue operating at high levels; In terms of demand, the temperature had risen, the civilian electricity load had fallen, and the overall pressure on power plant inventory was relatively small. Currently, terminals mainly relied on long-term cooperative replenishment, and replenished warehouses according to demand. The demand for coal in the market was relatively flat, and the overall sentiment was more wait-and-see. It is expected that the short-term thermal coal market will maintain a volatile and weaker operation. The cost side of methanol was bearish for the market. The supply of goods continued to be abundant, while downstream demand was relatively average in a supply-demand game state. SunSirs, Methanol Analysts predict that in the short term, the domestic methanol market prices will be mainly weak and consolidating.

Market outlook

In recent times, the price of raw material methanol had been mainly fluctuating, and many on-site formaldehyde units had maintained their initial load operation, with continuous supply growth. Downstream panel factories had lowered their operating rates as the temperature warming up. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly decline in the near future.

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