Cost Support Shandong Formaldehyde Market Rose Slightly

Bulk commodity list data shows that this week, the formaldehyde market in Shandong has risen. The average price of formaldehyde in Shandong at the beginning of the week was 1283.33 CNY/ton, and the average price of formaldehyde in Shandong at the weekend was 1293.33 CNY/ton, an increase of 0.78%, and the current price fell by 3.00% from the previous month. , the current price rose 0.26% year-on-year.

This week, the market price of formaldehyde in Shandong has risen slightly. From the above picture, it can be seen that formaldehyde has recently rebounded after falling, and the market continues to rise this week. As of June 16, the mainstream market price in Shandong is 1260-1320 CNY/ton. Recently, the methanol market has been rising in a narrow range. Under the support of cost, formaldehyde has tentatively followed up, and downstream demand is difficult to improve. Just need to purchase, and the market transaction of formaldehyde is average. The market is driven by cost.

Upstream methanol situation: The domestic methanol market has risen recently. The price of raw coal continued to be high, driving the atmosphere of the entire industry chain to be good. At the same time, the high volatility of the crude oil market also drove the chemical products market higher on the macro level. However, after the price of downstream receiving goods rose slightly, the rise in oil prices led to tight return shipping capacity, and there was still room for freight rates to rise. The performance of the demand side is general, and the methanol spot is mainly on the sidelines in the middle and late weeks of the week.

This week, the methanol market has risen. Driven by rising costs, formaldehyde manufacturers intend to increase their quotations. However, the start-up of downstream board factories has not improved. The demand for formaldehyde in the field is limited, and the market transaction situation is general. It is difficult to increase the price of formaldehyde.

The domestic methanol market is on the rise, and the demand from downstream lumber mills continues to be weak. Therefore, formaldehyde analysts predict that the recent price of formaldehyde in Shandong will mainly rise in shock.