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 1237.50 yuan/ton, and on the weekend, the average price of formaldehyde in Shandong was 1252.50 yuan/ton, a decrease of 1.21%. The current price has increased by 7.97% year-on-year.

formaldehyde

Recently, the price of formaldehyde in the Shandong region has risen and fallen. From the above chart, it can be seen that the formaldehyde market has mainly fluctuated slightly in the past two months, and this week’s market has risen. As of May 23rd, the mainstream market price in Shandong region is 1250-1360 yuan/ton. This week, the price of raw material methanol has skyrocketed, with strong cost support. Mainstream downstream plate factories have maintained a high demand for procurement, and their enthusiasm for receiving goods is high. The overall market transaction is still good, and the market is dominant.

Upstream methanol situation: The domestic methanol market is on the rise. On the cost side, the available resources at ports are gradually decreasing, especially due to the tight supply of some high-quality chemical coal. In addition, the market still has expectations for the upcoming peak season, and traders have a strong sentiment of price support. In mid month, most coal mines maintained normal production status, mainly focusing on fulfilling long-term agreements, and the coal supply was relatively stable. With the rise in temperature and the demand for electricity, downstream power plants may gradually replenish their warehouses, providing some support for coal prices. The cost of methanol is influenced by favorable factors.

In recent times, the price of raw material methanol has mainly fluctuated at high levels, and there is an expectation of a decline in the operating rate of downstream sheet factories. Market transactions may weaken. Therefore, formaldehyde analysts from the Chemical Branch of Shengyishe predict that the price of formaldehyde in Shandong will mainly decline in the near future.