According to the data from the Commodity List of the Business News Agency, the market price of formaldehyde in Shandong fell sharply in March. At the beginning of the month, the average price of formaldehyde in Shandong was 1283.33 yuan/ton, while at the end of the month, the average price of formaldehyde in Shandong was 1223.33 yuan/ton, down 4.68%. The current price has fallen 16.07% year-on-year.

formaldehyde

In March, the market price of formaldehyde in Shandong Province fluctuated and fell. As can be seen from the above figure, formaldehyde has mainly fluctuated slightly in the past three months, with three weeks of decline this month. As of March 27, the mainstream market price in Shandong was 1160-1280 yuan/ton. In March, formaldehyde manufacturers started normal operations, but demand from downstream plate factories was weak, formaldehyde shipments were poor, inventories continued to be high, and the formaldehyde market gradually declined.

Upstream methanol situation: In March, the domestic methanol market fluctuated slightly, and the overall coal market was temporarily stable in terms of cost. As the “peak season winter” draws to a close, the inventory of terminal power plants is steadily cashing in under the long-term agreement, and the power plants maintain the procurement of coal in the just needed market. The cost of methanol is mixed. Demand side, downstream acetic acid: Sinopec Great Wall expected maintenance, acetic acid demand may decrease; Downstream dimethyl ether: Yima Kaixiang plans to stop for 20 days on March 26, with demand for dimethyl ether decreasing; Downstream chloride: Shandong Dongyue is expected to stop for maintenance, and Luxi Chemical is expected to have a reduced load, resulting in a decrease in chloride demand. The methanol demand side is temporarily negative.

The recent narrow decline in the domestic methanol market is mainly due to poor cost support. Therefore, formaldehyde analysts from the Chemical Branch of the Business Society predict that the recent weak decline in the price of formaldehyde in Shandong will be the main trend.