SunSirs: Poor Transportation, Formaldehyde Market Price in Shandong Was Weak and Consolidated
November 10 2022 09:13:52 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, Shandong's formaldehyde market was consolidated this week. The average price of Shandong's formaldehyde was 1,383.33 RMB/ton. The current price fell 3.04% month on month and 16.16% year on year.
Analysis review
The price of formaldehyde market in Shandong Province was stable this week. It can be seen from the monitoring data of SunSirs that the recent fluctuation of formaldehyde market was not large, and this week it continued to be weak and consolidated. As of November 9, the mainstream market price in Shandong was 1,350-1,400 RMB/ton. Recently, the domestic methanol market fluctuated in a narrow range, the cost support was average. Affected by the public security incident, the logistics and transportation were not smooth, and the formaldehyde market was rarely traded. Recently, the situation has improved slightly, but the market has not improved significantly.
Upstream methanol: the market in East China rebounded at a low level, and the transaction was fair. Futures stopped falling and rebounded, production facilities of major enterprises in some regions stopped, supply decreased, and market buying atmosphere improved. The logistics in some regions was limited, but the demand was weak.
Market outlook
Recently, the domestic methanol market has slightly retreated, giving formaldehyde a certain cost support. Therefore, the formaldehyde analysts of SunSirs predict that the formaldehyde price in Shandong will increase by shocks mainly in the near future.
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