SunSirs: Due to Environmental Protection Control, Shandong Formaldehyde Market Fell

　　Price trend

　　According to data from SunSirs’bulk List, the Shandong formaldehyde market has recently fallen. On the 6th, the average price of Shandong formaldehyde was 1,367.50 RMB/ton, and on the 7th, the average price of Shandong formaldehyde was 1,357.50 RMB/ton, a decrease of 0.73%. The current price has increased by 4.42% month-on-month, and the current price has increased by 57.24% year-on-year.

　　Analysis review

　　Recently, the domestic market price of formaldehyde has fallen. As of July 7, the mainstream market price in Shandong was 1,330-1,400 RMB/ton. Recently, the trading atmosphere in the formaldehyde market has been general, and the transaction situation has not been satisfactory. The formaldehyde market has fluctuated and declined.

　　Upstream methanol situation: Partially negotiated prices in the methanol market in southern Shandong are 2,490-2,500 RMB/ton. Linyi accepts local goods to negotiate the price to 2,450-2,490 RMB/ton, and there is no quotation for logistics goods. There is no obvious change in the fundamentals, and industry players tend to wait and see. The mainstream transactions in the methanol market in central of Shandong are at 2,320-2,340 RMB/ton. The transactions are light and negotiations are limited. The transaction price of methanol in the North area of Shandong is referenced to 2,300-2,320 RMB/ton. The methanol market fluctuates and consolidates, and the overall transaction atmosphere is dull, which has poor support for formaldehyde.

　　At present, plate factories in Shandong are affected by environmental protection regulations, and their start-ups are average, demand is poor, and procurement capabilities are limited. The atmosphere of the Shandong formaldehyde trading market is relatively deserted, the transaction is not good, the manufacturers of formaldehyde are difficult to ship, and the focus of the formaldehyde market continues to drop.

　　Market outlook

　　Recently, the upstream raw material methanol market has been weakened, and the downstream plate factories have started to tighten, and the demand is not good. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will fall mainly in the near future.