SunSirs: Cost Support Was General, and Shandong Formaldehyde Market Fell Slightly

  The formaldehyde market has fallen slightly recently. As of February 16, the mainstream market price in Shandong was 1,280-1,350 RMB/ton.

  Analysis review

  The average price of methanol in domestic production enterprises was 2,720 RMB/ton. The shipment situation was different, the freight rate had rebounded, and traders were cautious. The main contract of thermal coal declined, and the cost of methanol production weakened.

  The cost support of formaldehyde was general. Formaldehyde manufacturers are gradually resuming work, the market supply has increased, and the formaldehyde market has fallen.

  Market outlook

  Recently, the raw material methanol market has been consolidated, and the cost support is acceptable. Therefore, the formaldehyde analyst of SunSirs predicts that the price of formaldehyde in Shandong will mainly rise in the near future.