According to the data from the Commodity List of Business News Agency, the recent market situation of formaldehyde in Shandong has been volatile and consolidated. This week, the average price of formaldehyde in Shandong was 1273.33 yuan/ton, up 3.24% month on month, and the current price has dropped 9.21% year on year.

formaldehyde

Recently, the market price of formaldehyde in Shandong has been stable. From the above figure, it can be seen that the recent market of formaldehyde has mainly fluctuated slightly, and this week’s market has not fluctuated much. As of March 16, the mainstream market price in Shandong was 1220-1350 yuan/ton. This week, the price of raw material methanol has stabilized, with moderate cost support, weak market trading sentiment, weak demand from downstream plate factories, and stable shipments from formaldehyde manufacturers. The market has been volatile and consolidated.

Upstream methanol situation: The domestic methanol market is in a weak state, with costs facing normal production and sales in coal production areas. Downstream power plants are mainly focused on fulfilling long-term agreements, while non electric enterprises have increased procurement, and market sentiment has eased. However, as the temperature gradually warms up, daily consumption of power plants is slowly declining. In the short term, the price of steam coal may be mainly in a narrow range. The methanol cost side is temporarily negative. The overall recovery amount exceeded the loss amount, and the capacity utilization rate increased. The methanol supply side is temporarily negative. “Supply is relatively abundant, and demand changes are limited. Methanol analysts from the Business Agency predict that the domestic methanol market will be dominated by weak consolidation.”.

Recently, demand from downstream plate factories has been weak, and formaldehyde manufacturers have had a poor shipment situation. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the recent price of formaldehyde in Shandong will mainly fall due to shocks.