According to the Commodity Market Analysis System of the Business Society, the formaldehyde market in Shandong has recently risen. At the beginning of the week, the average price of formaldehyde in Shandong was 1203.33 yuan/ton, and on the weekend, the average price of formaldehyde in Shandong was 1206.67 yuan/ton, an increase of 0.28%. The current price has dropped by 9.73% compared to last year.
Recently, the price of formaldehyde in the Shandong region has fluctuated and increased. From the above chart, it can be seen that the formaldehyde market has been mainly on the rise in the past two months, and this week the market continues to rise. As of September 21st, the mainstream market price in Shandong region is 1150-1260 yuan/ton. This week, the price of raw material methanol has shown an upward trend, with good cost support. The formaldehyde market has slightly improved in trading, and manufacturers have stabilized their shipments, resulting in a slight increase in the market.
Upstream methanol situation: The domestic methanol market is on the rise, driven by demand, and the methanol market continues to improve, with a significant increase in order volume. The market atmosphere is relatively high, and shipments are smooth. In terms of supply and demand, there have been breakthroughs in pre holiday stocking by netizens. Methanol analysts from Business Society predict that the domestic methanol market is mainly characterized by high volatility.
The recent methanol market may fall, with poor cost support, weak demand from downstream sheet metal factories, and pressure on formaldehyde shipments. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the price of formaldehyde in Shandong will mainly decline in the near future.