Cost dominated market: Shandong formaldehyde market price rises

According to the data of the bulk commodity list of the business community, the formaldehyde market in Shandong rose this week. At the beginning of the week, the average price of formaldehyde in Shandong was 1280.00 yuan/ton, and at the weekend, the average price of formaldehyde in Shandong was 1300.00 yuan/ton, up 1.56%. The current price rose 7.14% month on month, and the current price fell 9.30% year on year.





The formaldehyde market price in Shandong Province rose slightly this week. From the above figure, it can be seen that the formaldehyde market has not fluctuated in recent two months. This week, the market continued to rise for three weeks. As of September 14, the mainstream market price in Shandong was 1240-1380 yuan/ton. In the near future, the methanol market has seen a good increase, and the cost support is relatively strong. The demand of the downstream plate plants is general, and the purchase of just needed materials is maintained. The transaction in the formaldehyde market is fair, and the market continues to rise driven by the cost.


Upstream methanol situation: Recently, the domestic methanol market is surging. The main reasons are the short term shortage of supply and the short term rise in demand. The downstream receiving price has risen significantly. There is a demand for goods in stock. The traders’ mentality is stable and improving. The quotations of major manufacturers at ports and in the mainland have been continuously raised. Some manufacturers have been bidding well, mainly at a premium starting price. However, the rise in freight has restrained the growth of the internal real estate area.


This week, the methanol market continued to rise. Driven by the rising cost, the formaldehyde manufacturer intended to raise the price in order to make profits, but the downstream plate factory did not improve. The demand for formaldehyde on the site was limited, and the purchase was mainly just needed. The market transaction was average. Zibo Dejuyicheng plant stopped, and the formaldehyde inventory was OK. The market rose slightly.


Recently, the domestic methanol market has risen, and the procurement of downstream wood panel plants has remained in demand. Therefore, the formaldehyde analyst of the Chemical Branch of the Business Cooperative predicted that the recent increase in formaldehyde prices in Shandong was mainly due to shock.