According to the Commodity Market Analysis System of Business Society, the formaldehyde market in Shandong fluctuated and fell in May. At the beginning of the month, the average price of formaldehyde in Shandong was 1186.67 yuan/ton, and at the end of the month, the average price of formaldehyde in Shandong was 1146.67 yuan/ton, a decrease of 3.37%. The current price has decreased by 11.79% compared to last year.

formaldehyde

In May, the market price of formaldehyde in Shandong Province declined. From the figure above, it can be seen that formaldehyde has mainly declined in shock for more than two months, and the market continued to decline this month. As of May 25, the mainstream market value price in Shandong was 1100-1250 yuan/ton. In May, the raw material methanol experienced a broad decline, and formaldehyde manufacturers started operating normally. However, downstream panel factories had weak demand, resulting in significant pressure on formaldehyde shipments. Inventory levels continued to rise, and the formaldehyde market continued to decline.

Upstream methanol situation: In May, the domestic methanol market declined, with the factory delivery price of methanol in the southern region of Shandong being around 2150 yuan/ton for cash exchange, and the delivery price in Linyi being around 2190 yuan/ton for cash exchange. The local methanol factory in central Shandong quoted a price of 2300 yuan/ton for self delivery from the factory. The negotiated price for methanol in the Dongying area of Shandong is between 2160 and 2170 yuan/ton, which will be delivered to spot exchange. The market atmosphere continues to be weak. After the futures price fell below the integer threshold of 2200 yuan/ton, the market sentiment became less confident. At the same time, the raw coal is still weak, the downstream demand is weak for a long time, the social inventory of the methanol market continues to accumulate, the source of imported goods also continues to pour in, and the spot market price of methanol drops again and again.

The recent decline in the methanol market is mainly due to cautious downstream panel factories receiving goods and a decline in market transactions. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the price of formaldehyde in Shandong will be mainly weak in the near future.