SunSirs: The Formaldehyde Market in Shandong Was on the Rise

https://www.chemnet.com   Jul 28,2023

According to the Commodity Market Analysis System of SunSirs, the formaldehyde market in Shandong fluctuated and rose in July. At the beginning of the month, the average price of formaldehyde in Shandong was 1,076.67 RMB/ton, and at the end of the month, the average price of formaldehyde in Shandong was 1,140.00 RMB/ton, an increase of 5.88%. The price decreased by 5.53% compared to last year.

Analysis review

In July, the market price of formaldehyde in the Shandong region increased. From the above chart, it can be seen that formaldehyde was mainly fluctuating and declining in the past three months, and the market had rebounded this month. As of July 27th, the mainstream market price in Shandong region was 1,020-1,220 RMB/ton. In July, the raw material methanol market fluctuated and rose, with formaldehyde manufacturers operating normally. The demand of downstream panel factories mainly maintained just in needed, and the formaldehyde market transactions were average. Formaldehyde mainly rose with fluctuations in raw materials.

Upstream methanol situation: In July, the domestic methanol market fluctuated and rose, and the recovery of multiple production units in the northwest region was delayed. The supply increase was less than expected, and multiple positive factors such as a good macro outlook were combined. The market mentality quickly improved, and prices rose strongly. The market mentality quickly improved, and prices rose strongly. Large MTOs in Zhejiang were actively inquiring about US dollar supply, and market demand was expected to improve. The atmosphere was boosted, and the domestic methanol market atmosphere had significantly increased, with prices continuing to rise.

Market outlook

Recently, the methanol market was mainly fluctuating and rising, with good cost support. However, downstream sheet metal factories were in the off-season of the industry and had limited purchasing capacity. Therefore, formaldehyde analysts from SunSirs predict that the price of formaldehyde in Shandong will mainly increase slightly in the near future.

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