Price Trend

According to the data from the commodity list of business associations, the domestic formaldehyde market fell this week, with the average price of formaldehyde at the beginning of the week (June 2) being 1206.67 yuan/ton, and at the end of the week (June 6), the average price of formaldehyde at the weekend (June 6) being 193.33 yuan/ton, down by 1.11%, and the current price fell by 21.75% compared with last year.

II. Market Analysis

Products: Domestic formaldehyde market prices fell. At the weekend, Hebei mainstream factory quotation was about 1130 yuan/ton, South China mainstream factory quotation was about 1260 yuan/ton, Shandong mainstream factory quotation was 1120 yuan/ton, Jiangsu mainstream factory quotation was 1350 yuan/ton. Tianning Chemical 80,000 tons of formaldehyde plant was restarted, the supply of formaldehyde in the formaldehyde market was still acceptable, downstream manufacturers were affected by environmental protection, the start-up rate was reduced, and the price of formaldehyde fell.

Industry chain: The upstream methanol market was affected by macro and port inventory. The price at the beginning of the week was 2334.00 yuan/ton, and at the end of the week was 2234.00 yuan/ton, a decline of 4.28%. No support for formaldehyde products, formaldehyde manufacturers have a general mentality, downstream maintenance just need to purchase, on-site trading is more cautious, formaldehyde prices fell.

3. Future Market Forecast

The upstream methanol market has been declining in recent days, the cost support is insufficient, and the downstream start-up rate is general. Therefore, formaldehyde analysts of business, social and Chemical Bureau expect that domestic formaldehyde prices or weak consolidation will dominate in the near future.