Price trend
According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong has been fluctuating and consolidating recently. This week, the average price of formaldehyde in Shandong was 1,186.67 RMB/ton, which was the same as last week. The current price decreased by 13.17% compared to last year.
Analysis review
Recently, the price of formaldehyde market in Shandong fluctuated and consolidated. It can be seen from the above figure that the recent formaldehyde market mainly fluctuated slightly, and the market was stable this week. As of May 5, the mainstream market price of formaldehyde in Shandong was 1,150-1,280 RMB/ton. This week, the price of raw material methanol fell weakly, and the market trading sentiment was average. Formaldehyde manufacturers stabilized their shipments, and the market was relatively stable.
Upstream methanol situation: The domestic methanol market was fluctuating and declining, with the raw material coal market mainly on a wait-and-see basis. The cost side lacked positive support, and the spot buying performance was weak, leading to a decline in the methanol market.
The methanol market in the southwest region declined, with some mainstream enterprises in Sichuan and Chongqing negotiating export prices of around 2,300-2,400 RMB/ton; The focus of some trade negotiations in Chengdu was around 2,460-2,520 RMB/ton. The methanol market in the Hunan and Hubei regions declined, with some enterprises in Hubei negotiating a reference price of around 2,555-2,570 RMB/ton; The reference prices quoted by some traders in Hunan were around 2,660-2,700 RMB/ton.
Market outlook
Recently, the methanol market was weak and declining, with poor cost support. Downstream sheet factories had poor resumption of work due to rainy weather. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly fluctuate and decline in the near future.
