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1. Key Points of the Day

① Formaldehyde market center declined
② Domestic methanol market declined

2. Daily Market Overview and Outlook

Table 1: Summary of Domestic Formaldehyde Prices (Unit: CNY/ton)

Using the Shandong region as the benchmark, formaldehyde closed at 1,710 CNY/ton today, a period-on-period decline of 0.58%. The formaldehyde market experienced a narrow-range decline today. In the morning, prices in major production areas were supported by relatively strong costs, leading to firmer pricing. However, during the day, environmental regulations hindered downstream purchasing enthusiasm. Combined with holders actively offering discounts to clear inventory, market sentiment shifted sharply downward. Under pressure to ship goods, prices fell across multiple regions. Chempricehub forecasts that the formaldehyde market will likely trade weakly within a range in the short term.

3. Related Product Markets

Methanol: Today, the overall sentiment in the domestic methanol market was slightly weak. Market volatility remains driven primarily by external macroeconomic news. Futures prices trended lower during the day before rebounding slightly in the afternoon. Buyers followed up on dips, while the basis strengthened steadily throughout the day. The inland market demonstrated relative resilience against declines; except for Henan, which saw significant drops aligned with coastal markets, price corrections in Northwest and North China were limited. In the short term, attention should remain focused on developments regarding the US midterm elections and the US-Iran situation. Fundamentally, given that supply-side pressure is not substantial and coastal inventories remain at relatively low levels, phased correction space is expected to be limited.