According to the Commodity Market Analysis System of the Business Society, the formaldehyde market in Shandong has recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1103.33 yuan/ton, while on the weekend, the average price of formaldehyde in Shandong was 1096.67 yuan/ton, a decrease of 0.60%. The current price has dropped by 13.65% compared to last year.
formaldehyde
Recently, the price of formaldehyde in the Shandong region has fluctuated and declined. From the above chart, it can be seen that the recent formaldehyde market has mainly experienced slight fluctuations, and the market has continued to decline this week. As of June 7th, the mainstream market price in Shandong region is 990-1200 yuan/ton. This week, the price of raw material methanol fell weakly, and the market trading sentiment was average. Formaldehyde manufacturers continued to lead the market downward in order to ship.
Upstream methanol situation: The domestic methanol market is weak and the support for methanol production costs is weakened. The Baofeng unit is recovering, the supply in mainland China is increasing, and the local formaldehyde load is decreasing, resulting in a decrease in methanol demand. As prices decline, traders and downstream sentiment weaken accordingly. The ex factory price of methanol in the southern region of Shandong is referenced to be around 2130 yuan/ton in cash exchange, while the delivery price in Linyi is referenced to be around 2150-2170 yuan/ton in cash exchange. The local methanol factory in central Shandong quoted a price of 2150-2190 yuan/ton for self delivery. The negotiated price range for methanol in the Dongying area of Shandong Province is 2080-2090 yuan/ton.
Recently, the methanol market has been weak and declining, with poor cost support. Downstream sheet factories have had poor resumption of work due to rainy weather. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that formaldehyde prices in Shandong will mainly fluctuate and fall in the near future.
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