SunSirs: The Raw Material Market Was Poor, Shandong Formaldehyde Market Declined

　　Price trend提交According to data from SunSirs, the Shandong formaldehyde market fell. On the 9th, the average price of formaldehyde in Shandong was 1,650.00 RMB/ton, and on the 10th, the average price of formaldehyde in Shandong was 1,626.67 RMB/ton, down 1.41%. The current price fell 11.27% from the previous month and the current price increased by 37.08% year-on-year.Analysis reviewRecently, the methanol market is not good. After the new prices in Shaanxi and Mongolia were introduced, the shipment situation was different, the freight was high, traders operated cautiously, and most downstream purchases were on-demand. Methanol will mainly fluctuate downward in the short term, and has insufficient support for formaldehyde.The demand from downstream panel plants was general, and the demand for purchasing remained rigid, and the formaldehyde market fell.Market outlookRecently, the raw material methanol market is not good and the cost support is weak. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will mainly fall in the near future.