① Formaldehyde market trending downward
② Domestic methanol market showing mixed trends
Table 1: Summary of Domestic Formaldehyde Prices (Unit: CNY/ton)
| Region | Previous Period | Current Period | Change | % Change |
|---|---|---|---|---|
| Southern Shandong | 1790 | 1740 | -50 | -2.79% |
| Henan | 1780 | 1750 | -30 | -1.69% |
| Anhui | 1750 | 1720 | -30 | -1.71% |
| Guangxi | 1900 | 1900 | 0 | 0.00% |
| Guangdong | 2000 | 2000 | 0 | 0.00% |
Taking the Shandong region as the benchmark, formaldehyde closed at 1,740 CNY/ton today, a period-on-period decline of 2.79%. The center of gravity in the formaldehyde market shifted downward today. While support from raw materials in major production areas remained strong, product prices were constrained by significant price-suppression sentiment from the downstream wood-based panel market. Consequently, formaldehyde producers struggled to pass on cost fluctuations due to their weak bargaining power, leading to passive price declines. Chempricehub forecasts that the formaldehyde market may stabilize and halt its decline in the short term.
Methanol: Trading activity in the domestic methanol market was initially robust but weakened later in the day. Futures prices underwent minor adjustments within a narrow range amid overall weakness. Despite tight port spot supply, some buyers entered the market at lower levels, keeping basis slightly firm. Afternoon trading became somewhat stagnant, with continued attention on developments regarding the Nanjing MTO project. Upstream producers in inland regions initiated aggressive price cuts via auctions; however, replenishment orders from mid- and downstream players supported better premium trading conditions in the morning. Sentiment deteriorated again in the afternoon. In the short term, based on expectations of weakening supply-demand fundamentals, the market is projected to consolidate within a narrow range, with limited potential for small-scale rebounds.
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