According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong had been stable recently. This week, the average price of formaldehyde in Shandong was 1,216.67 RMB/ton, and the current price has decreased by 12.05% compared to last year.
Analysis review
Recently, the price of formaldehyde in the Shandong region had been relatively stable. From the above chart, it can be seen that the formaldehyde market mainly fluctuated slightly in the past two months, and the market continued to remain stable this week. As of October 26th, the mainstream market price in Shandong region was 1,120-1,330 RMB/ton. This week, the price of raw material methanol showed a slight upward trend, with good cost support. However, downstream plate factories had not started well, demand was weak, procurement was weak, and the formaldehyde market was fluctuating and consolidating.
Upstream methanol situation: The domestic methanol market had slightly increased. As of October 26th, there was a possibility of a large downstream MTO device being put into operation, and the demand was good. In addition, macroeconomic benefits had also played a certain driving role. At the same time, port inventory had been significantly reduced, and the methanol market was gradually improving.
Market outlook
Recently, the methanol market had slightly increased, with good cost support. Downstream panel factories maintained their procurement on demand, while formaldehyde manufacturers had shipped normally. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly rise in the near future.
