SunSirs: Methanol Market Fell, Shandong Formaldehyde Market Followed the Decline

Price trend

According to the monitoring data of SunSirs, the Shandong formaldehyde market fell. On the 15th, the average price of formaldehyde in Shandong was 1,586.67 RMB/ton, and on the 16th, the average price of formaldehyde in Shandong was 1,530.00 RMB/ton, down 3.57%, and the price fell by 30.98% month-on-month and the price increased by 25.75% year-on-year.
Analysis review

Recently, the methanol market was not good, and there were more methanol restart devices, and the inventory in manufactures and ports had increased. Methanol mainly fluctuates downward in the short-term, giving insufficient support to formaldehyde.

The demand from downstream plate mills was general and the market transactions were slow. Manufacturers took the initiative to lower their quotations for shipments, and the formaldehyde market fell.
Market outlook
Recently, 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.