According to the commodity market analysis system of Business Society, the formaldehyde market in Shandong was volatile and consolidated in January. At the beginning of the month, the average price of formaldehyde in Shandong was 1173.33 yuan/ton, and the lowest point on the 15th was 1153.33 yuan/ton. By the end of the month, the average price of formaldehyde in Shandong had dropped to 1203.33 yuan/ton, an increase of 4.34%. The current price has dropped by 0.28% year-on-year.

formaldehyde

In January, the price of formaldehyde in the Shandong region fluctuated and stabilized. From the above chart, it can be seen that the formaldehyde market has had relatively small fluctuations in the past three months, and this month’s market has slightly declined before rising. As of January 29th, the mainstream market price in Shandong region is 1150-1260 yuan/ton. In January, the raw material methanol market first fell and then rose, and the price of formaldehyde basically followed the changes in methanol. However, downstream board factories had poor demand, and the atmosphere of on-site negotiations was weak, making it difficult for transactions to improve, putting pressure on formaldehyde manufacturers.

Upstream methanol situation: In December, the domestic methanol market first fell and then rose. The decline at the beginning of the month was due to an increase in domestic supply, which led to a bearish market mentality. Some methanol production enterprises lowered prices and offered discounts to ship, but the upstream inventory was high and the purchasing sentiment was average, resulting in weak methanol procurement prices. The increase after mid month is due to the limited availability of circulating spot goods in society, combined with the impact of weather and other factors on unloading speed. At the same time, the transportation cost from the northwest production area to the sales area market has increased, leading to a significant increase in domestic methanol prices. As supply gradually recovers, downstream receiving sentiment is average, and the market is mainly wait-and-see.

Recently, the price of raw material methanol has slightly rebounded, and cost support is still acceptable. However, downstream board factories have taken early leave, resulting in poor demand. Formaldehyde manufacturers have allowed profits to continue the market. Therefore, formaldehyde analysts from the Chemical Branch of Shengyishe predict that the price of formaldehyde in Shandong will mainly decline slightly in the near future.