According to the commodity market analysis system of Business Society, the formaldehyde market in Shandong has recently declined. At the beginning of the week, the average price of formaldehyde in Shandong was 1206.67 yuan/ton, and on the weekend, the average price of formaldehyde in Shandong was 1200.00 yuan/ton, a decrease of 0.55%. The current price remains unchanged compared to last year.

formaldehyde

Recently, the price of formaldehyde in the Shandong region has fluctuated and fallen. From the above chart, it can be seen that the formaldehyde market has mainly fluctuated slightly in the past two months, and this week the market continues to decline slightly. As of April 7th, the mainstream market price in Shandong region is 1150-1200 yuan/ton. This week, the price of raw material methanol has fluctuated and stabilized, and cost support is still acceptable. However, downstream panel factories have continued to have poor demand, weak support for formaldehyde procurement, and production enterprises have no plans to reduce burden or stop production. The on-site supply has continued to rise, and the formaldehyde market has slightly declined.

Upstream methanol situation: The domestic methanol market has mainly experienced slight fluctuations. Downstream olefin factories have reduced their purchases of methanol from mainland China, and the purchasing sentiment in the mainland market is also average, with a focus on maintaining essential procurement. Coal prices currently have no support for the market, and both mainland and port sources are showing an increasing trend. However, traditional downstream and MTO consumption levels are expected to weaken, and the supply-demand gap in the industry is further expanding. It is expected that the domestic methanol market will mainly operate weakly in the short term.

The recent fluctuations in raw material methanol prices are mainly due to the accumulation of formaldehyde inventory and a cold trading atmosphere on the exchange. Therefore, formaldehyde analysts from the Chemical Branch of Shengyishe predict that the recent decline in formaldehyde prices in Shandong will be the main trend.