Price trend

According to data from SunSirs, the Shandong formaldehyde market has risen this week. The average price of Shandong formaldehyde at the beginning of the week was 1,676.67 RMB/ton, and the average price of Shandong formaldehyde at the weekend was 1,833.33 RMB/ton, an increase of 9.34%. The current price is an increase of 30.95% month-on-month, and the current price has increased by 80.33% year-on-year.

Analysis review

The price of formaldehyde in Shandong area increased this week. From the monitoring data of SunSirs, it can be seen that formaldehyde has increased for more than a month, with the highest increase of more than 9% in a week, which is a big increase. As of October 8, the mainstream market price in Shandong was 1,820-2,000 RMB/ton. Linyi Jinyuan Chemical has two formaldehyde production lines that ceased production on June 25, with an annual production capacity of 80,000 tons and the formaldehyde content is 37%. Recently, the operating conditions of formaldehyde companies have not improved significantly, the inventory situation is relatively optimistic, the formaldehyde market transactions are fair, and the formaldehyde market continues to rise.

Upstream methanol situation: methanol supply in Northwest and other places has shrunk, thermal coal prices continued to hit new highs, methanol were clearly supported by costs, methanol futures prices rose sharply, and the domestic methanol spot market continued to rise. Under the influence of the policy, the supply of methanol in the Mainland was limited, and the downstream stocking was more active before the National Day. The strong downstream stocking operations simultaneously supported the market soaring. The methanol market continued to rise sharply, giving formaldehyde strong cost support.

Some downstream plate factories started construction on holidays and maintained just-needed purchases. They were acceptable to the market and did not have any obvious resistance. Formaldehyde manufacturers actively shipped products and the market inventory was digested steadily. The formaldehyde market was mainly driven by the rise in methanol, which followed the rise with the methanol market.

Market outlook

Recently, the methanol market has been rising rapidly, the market remains high, and the cost support is strong. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will mainly shocked upward in the near future.

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