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 1186.67 yuan/ton, while at the end of the week, the average price of formaldehyde in Shandong was 1183.33 yuan/ton, a decrease of 0.28%. The current price has decreased by 12.35% compared to last year.

formaldehyde

Recently, the price of formaldehyde in the Shandong region has fluctuated and declined. From the above chart, it can be seen that the formaldehyde market has mainly fluctuated slightly in the past two months, with a decline this week. As of November 17th, the mainstream market price in Shandong region is 1100-1260 yuan/ton. This week, the price of raw material methanol fluctuated and consolidated, with average cost support. Formaldehyde manufacturers actively shipped, but the market trading atmosphere was relatively cold and the market declined.

Upstream methanol situation: In terms of supply, global coal supply is stable, domestic imports have increased, and the increase in domestic demand is not enough to support the operation of coal prices at high levels; In terms of demand, the overall pressure on inventory in power plants is relatively low. Currently, the terminal mainly relies on long-term replenishment and replenishment according to demand. The demand for coal in the market is relatively flat, and the overall sentiment is biased towards wait-and-see. The cost side of methanol is influenced by bearish factors. Downstream demand is expected to increase, but fundamental contradictions are still not significant. The domestic methanol market is mainly fluctuating and consolidating.

The recent weak consolidation of methanol market, poor cost support, and high pressure on formaldehyde inventory are likely to follow the trend. 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.