SunSirs: Methanol Prices Continued to Rise, and Shandong Formaldehyde Market Followed the Rise

　　Price trend

　　According to data from SunSirs, the Shandong formaldehyde market has risen. The average price of Shandong formaldehyde on the 27th was 1,667.67 RMB/ton, an increase of 5.23% from yesterday. The price rose by 20.62% from the previous month, and the price rose by 64.92% from the same period last year.

　　Analysis review

　　The formaldehyde market was mainly driven by the rising cost of methanol. The downstream plate mills were operating at an average rate under the electricity curtailment policy, maintaining just-needed purchases, and the market buying atmosphere was acceptable. Formaldehyde manufacturers stably shipped and the market went up.

　　Market outlook

　　Recently, the downstream demand is acceptable, but the raw material methanol market continues to rise. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will increase mainly in shock in the near future.