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 1216.67 yuan/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1203.33 yuan/ton, a decrease of 1.10%. The current price has decreased by 7.44% compared to last year.
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 been mainly rising in the past two months, and this week’s market has declined. As of September 14th, the mainstream market price in Shandong region is 1150-1260 yuan/ton. This week, the price of raw material methanol showed a downward trend, with poor cost support. The formaldehyde market had light trading volume and the market continued to decline.
Upstream methanol situation: Upstream methanol situation: The domestic methanol market continues to decline, with maintenance of two units in Chifeng Boyuan, Yulin Kaiyue, and Shandong in Inner Mongolia; Anhui Carbon Xin, Hebei Jinshi, Shaanxi Black Cat, Wangcang Hezhong, and a set of devices in Inner Mongolia have been restored. The overall recovery is greater than the loss, resulting in an increase in capacity utilization. The supply side of methanol is negatively affected. The cost is relatively weak, and netizens have broken through in pre holiday stocking in terms of supply and demand. Methanol analysts from Business Society predict that the domestic methanol market is mainly characterized by high volatility.
Recently, the methanol market has been weak and declining, with poor cost support. Downstream panel factories have had poor demand due to the impact of rainy weather. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the price of formaldehyde in Shandong will mainly decline in the near future.