Price trend
According to the monitoring data of SunSirs, the Shandong formaldehyde market fell. On the 1st, the average price of Shandong formaldehyde was 1,667.67 RMB/ton. On the 26th, the average price of Shandong formaldehyde was 1,466.67 RMB/ton, down 12.00%. The price fell 16.98% month-on-month and the price increased by 20.55% year-on-year.
Analysis review
In November, the price of formaldehyde in the Shandong area fell. From the monitoring data of SunSirs, it can be seen that formaldehyde has fallen for six consecutive weeks, and the price has continued to fall. As of November 26, the mainstream market price in Shandong was 1,400-1,500 RMB/ton. Linyi Jinyimeng's annual production capacity of 100,000 tons of formaldehyde production line had resumed normal production. Recently, the formaldehyde enterprises have started well, the market inventory is relatively sufficient, the market trading atmosphere is deserted, the actual transaction situation is not good, and the formaldehyde market has fallen.
Upstream methanol situation: Recently, the domestic methanol spot market has plummeted. Due to the decline in coal prices, methanol cost support has weakened. Olefin companies such as Baofeng sell methanol out, and some methanol plants have been restored, so the supply is relatively abundant. In the middle of the month, the methanol quotations of major manufacturers were successively lowered, with the price adjustment range being 100-200 RMB/ton, which led to the continued downward trend of the domestic methanol market price center, difficulty in increasing the volume of transactions, and cautious market mentality. The methanol market fell sharply, unable to support the formaldehyde market, and formaldehyde followed the decline.
The downstream plate mills are currently under the influence of environmental protection control, and their start-up conditions are generally weak, and the demand side support is relatively weak. Surrounding low-priced sources of supply impacted the Shandong formaldehyde market. Manufacturers' shipments were poor, inventories rose, formaldehyde manufacturers maintained their shipments at low prices, and the formaldehyde market fell.
Market outlook
Recently, the domestic methanol market has continued to decline, cost support is weak, and downstream demand is general. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will fluctuate downward mainly in the near future.
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