According to the monitoring data of SunSirs, the formaldehyde market in Shandong fell this week. The average price of formaldehyde in Shandong at the beginning of the week was 1,293.33 RMB/ton, and the average price of formaldehyde in Shandong at the weekend was 1,270.00 RMB/ton, down 1.80%. The price fell by 12.26% RMB/ton from the previous month, and the price fell 3.97% year-on-year.
Analysis review
The market price of formaldehyde in Shandong region fell this week. From the data of SunSirs, it can be seen that formaldehyde has mainly fallen for more than a month, and the market continued to fluctuate downward this week. As of June 2, the mainstream market price of formaldehyde in Shandong was 1,250-1,300 RMB/ton. Recently, due to the domestic public health incident, downstream demand had continued to fail. Manufacturers in Linyi area had difficulty in shipping, and the market transaction was light, and the market continued to decline.
Upstream methanol situation: This week, the domestic methanol market was sorted and wait-and-see. In terms of spot, international oil prices continued to rise, coal prices were firm, and there was no obvious driving force from the fundamentals. The number of contracts signed by factories in the main production areas in the northwest decreased, and the tender price of the northern Shandong refinery declined slightly. The supply side was relatively abundant, and the demand side had not changed significantly for the time being. In the short term, the domestic methanol market would be mainly organized.
This week, the methanol market fluctuated and fell, the cost support was general, the downstream board factory did not improve the start-up situation, the demand for formaldehyde in the field was limited, the market transaction was deserted, the inventory continued to rise, and the formaldehyde manufacturers had difficulty in shipping. In order to ship, they actively lowered their quotations, and the formaldehyde market continued to decline.Market outlook
Recently, the domestic methanol market has been weak and consolidated, and the downstream lumber mills have weak demand. Under the double pressure, the formaldehyde analyst of SunSirs predicts that the recent price of formaldehyde in Shandong will mainly fall.
