Price trend
According to data from the Commodity List of SunSirs, the Shandong formaldehyde market has recently fallen. The average price of Shandong formaldehyde on the 1st was 1,200.00 RMB/ton, and the average price of Shandong formaldehyde on the 2nd was 1,190.00 RMB/ton, a decrease of 0.83%. The current price has increased 2.00%from the previous month, and an increase of 12.98% year-on-year.
Analysis review
Recently, the domestic market price of formaldehyde has fallen. As of January 20, the mainstream ex-factory price in Central China was around 1,200 RMB/ton, the mainstream manufacturer in North China was priced at 1,060 RMB/ton, and the mainstream ex-factory price in East China was 1,218 RMB/ton. Shandong Linyi Yinhe's formaldehyde plant with an annual production capacity of 120,000 tons was shut down. Recently, some formaldehyde plants in Shandong have been operating at low loads. Recently, formaldehyde inventory has been at a low level, the market trading atmosphere has been deserted, and the market has fallen.
Upstream methanol situation: The transaction in the methanol market in central Shandong has stabilized to 2,350 RMB/ton in cash out of the warehouse. There is no obvious transaction at the moment, and most of them wait and see. The negotiated price of methanol in the southern area of Shandong dropped by 40 RMB/ton to 2,140-2,160 RMB/ton, and the offer price of Linyi’s local cargo dropped by 30-40 RMB/ton to 2,150-2,160 RMB/ton. No transaction has been made yet. The offer price of logistics goods is temporarily unavailable, and the downstream continues to shrink. The mentality of the industry is general and the market trading is weak. The transaction price of Shandong methanol Lubei market is stable at 2,200-2,220 RMB/ton, the transaction situation is average, and wait and see for the time being. The methanol market fell slightly in some areas, and it was difficult to support formaldehyde..
Recently, part of the Shandong timber plant began to stop work for holidays, the demand for formaldehyde declined, the sales of formaldehyde companies were difficult, and the market trading atmosphere was deserted. Some formaldehyde manufacturers subsequently suspended work for maintenance, and mainstream manufacturers offered lower offers.
Market outlook
Recently, the upstream raw material methanol market has fallen within a narrow range and the cost support is limited. The downstream wood mills have begun to stop work for holidays, and the demand has been weakening. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will fall slightly in the near future.
