SunSirs: Under the Leadership of Cost, Shandong Formaldehyde Market Rose First and Then Fell
October 27 2022 11:26:21 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the formaldehyde market in Shandong rose first and then fell in October. The average price of formaldehyde in Shandong at the beginning of the month was 1,336.67 RMB/ton, and the average price of formaldehyde in Shandong at the end of the month was 1,383.33 RMB/ton, up 3.49% and down 21.70% year on year.
Analysis review
In October, the market price of formaldehyde in Shandong Province rose first and then fell. From the data of SunSirs, it can be seen that formaldehyde did not fluctuate much in recent three months, and the increase was greater than the decrease. As of October 26, the mainstream market price in Shandong was 1,350-1,400 RMB/ton. In October, the domestic methanol market rose first and then fell, which greatly affected the price of formaldehyde. The downstream plate factory maintained just in need procurement, the formaldehyde inventory remained controllable, and the formaldehyde market changed with the cost.
Upstream methanol situation: the methanol market rose first and then fell in October, with a recent upward trend. Strong coal prices supported production costs. In terms of spot goods, the supply in the domestic mainland market increased, and the port market continued to de stock mainly. The atmosphere of the domestic methanol market was good. The quotation in some regions was adjusted in a narrow range, but the adjustment range was not large. The mainstream transaction was stable.
In October, the rise of methanol market was greater than the decline, and the formaldehyde market basically followed the rise and fall of the cost fluctuation. Recently, the downstream plate factory maintained procurement on demand, and the wait-and-see mood was strong, buying was cautious, and the market discussion atmosphere was light. However, the methanol market had an upward trend, and the formaldehyde market was expected to rise mainly by a small margin.
Market outlook
Recently, the domestic methanol market has been expected to rise, and the cost support is acceptable. Therefore, the formaldehyde analysts of SunSirs predict that the formaldehyde price in Shandong will mainly increase slightly in the near future.
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