SunSirs: Raw Material Methanol Rose, and Shandong Formaldehyde Market Followed the Rise

Price trend

According to the monitoring data of SunSirs, the Shandong formaldehyde market has risen slightly. The average price of Shandong formaldehyde on the 12th was 2,200.00 RMB/ton, and the average price of Shandong formaldehyde on the 13th was 2,267.67 RMB/ton, an increase of 3.03%, and the price increased by 58.14% month-on-month and the price increased by 115.87% year-on-year.

Analysis review

The upstream methanol market continued to rise. Thermal coal continues to hit new highs, methanol cost support was once again highlighted, the tight supply situation had not changed, downstream on-demand procurement continued, and the mentality of upstream and traders was supported. However, some Northwest olefin factories began to sell methanol, beware of risks. In the short term, the methanol market is still expected to rise again, giving strong cost support to formaldehyde.

The demand of downstream panel plants was acceptable, and there was no resistance to the acceptance of formaldehyde prices, and the formaldehyde market was rising.

Market outlook

Recently, the raw material methanol market continued to be at a high level and continued to rise. Driven by the strong cost, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will increase mainly in the near future.