According to the commodity market analysis system of Business Society, the average price of formaldehyde in Shandong at the beginning of the year was 1200.00 yuan/ton, and at the end of the year, the average price of formaldehyde in Shandong was 1076.67 yuan/ton, a decrease of 2.22%. The highest point was the average price of 1283.33 yuan/ton on March 1, and the lowest point was 1076.67 yuan/ton on June 15, a decrease of 16.10% compared to the highest point.

formaldehyde

In 2023, the formaldehyde market in Shandong fluctuated and fluctuated. From the above chart, it can be seen that formaldehyde has been on an upward trend for four months in 2023, with the highest monthly increase in August reaching 6.73%. The increase is mainly due to the fluctuation of international crude oil prices, the rise of raw material methanol market, and the significant increase in formaldehyde market. Formaldehyde has been on a downward trend for 7 months in 2023, with the largest decline occurring in May, reaching 5.34%. The main reason for the decline is the continuous decline of raw material methanol, and downstream board factories have poor demand due to the impact of rainwater and high temperature weather, resulting in oversupply and a significant decline in the formaldehyde market.

Upstream methanol situation: In 2023, the domestic methanol market showed an “M” – shaped trend, with two obvious “ups and downs” cycles throughout the year. The “high point” of prices in February and March is mainly due to the joint support of costs and demand. Some coal mines have cleared their inventory in the early stage, and terminal procurement is relatively active. There is a significant increase in transportation vehicles, coupled with the impact of sudden related accidents. In the short term, coal prices may rise. Downstream acetic acid: demand for acetic acid may increase; Downstream chloride: chloride demand or decrease. The temporary storage of methanol demand is favorable. The methanol market has seen a dual positive rise. The lowest price is in mid June, and the support for methanol production costs has weakened. Traditional demand has entered the off-season, and demand is weak. At the same time, some methanol parking facilities have recovered. Overall, the supply in the mainland market is still relatively sufficient. From the above figure, it can be seen that methanol and formaldehyde have maintained the same curve throughout the year. The market trend of methanol has a guiding effect on formaldehyde.

In recent times, the circulation of methanol has been restricted, and the market has shown a fluctuating upward trend. Cost support is good, and the Spring Festival is approaching. Downstream plate factories are flushing out inventory, and the shipment situation of manufacturers has improved. Under the dual benefits, formaldehyde analysts from the Chemical Branch of Shengyishe predict that the price of formaldehyde in Shandong will mainly fluctuate and consolidate in the beginning of 2022.