According to the commodity market analysis system of SunSirs, the formaldehyde market in Shandong had recently risen. At the beginning of the week, the average price of formaldehyde in Shandong was 1,170.00 RMB/ton, and on the weekend, the average price of formaldehyde in Shandong was 1,193.33 RMB/ton, an increase of 1.99%. The price had decreased by 5.29% compared to last year.
Analysis review
Recently, the price of formaldehyde in the Shandong region had slightly increased. From the above chart, it can be seen that the formaldehyde market had been mainly fluctuating slightly, with an increase this week. As of December 14th, the mainstream market price in Shandong region was 1,100-1,280 RMB/ton. This week, the price of raw material methanol had shown an upward trend, but downstream panel factories had poor demand, and market trading sentiment was average. Formaldehyde manufacturers were shipping normally, and the market was slightly rising with costs.
Upstream methanol situation: The domestic methanol market was on the rise, downstream acetic acid: Dalian Hengli's new unit was expected to be put into operation, Hubei Hualu continued to increase its load, and the demand for acetic acid was increasing; Downstream Dimethyl Ether: Jiujiang Xinlianxin Dimethyl Ether Plant storage and operation plan, demand for dimethyl ether may increase; Downstream chloride: The Jiujiang Jiuhong plant had resumed normal production, and the demand for chloride had increased; Downstream formaldehyde: The maintenance of Zibo Dejuyicheng formaldehyde device had been completed, leading to an increase in formaldehyde demand; Downstream MTBE: The shutdown of Debao Road continued to affect production, and some manufacturers had reduced operating loads, resulting in a decrease in MTBE demand. The demand for methanol was mixed.
Market outlook
Recently, there had been an upward trend in the methanol market, with good cost support. Downstream panel factories had poor operating rates due to environmental impact, and formaldehyde market transactions were average. Therefore, formaldehyde analysts from SunSirs predict that formaldehyde prices in Shandong will mainly fluctuate and rise in the near future.
