① Formaldehyde market center of gravity declined
② Domestic methanol market fell
Table 1: Summary of Domestic Formaldehyde Prices (Unit: CNY/ton)
| Region | Previous Period | Current Period | Change in Value | Change in % |
|---|---|---|---|---|
| Southern Shandong | 1760 | 1750 | -10 | -0.57% |
| Henan | 1720 | 1720 | 0 | 0.00% |
| Anhui | 1750 | 1750 | 0 | 0.00% |
| Guangxi | 1950 | 1950 | 0 | 0.00% |
| Guangdong | 1910 | 1910 | 0 | 0.00% |
Based on the Shandong region, formaldehyde closed at 1750 CNY/ton today, a week-on-week decrease of 0.57%. The formaldehyde market experienced a narrow decline today. As the cost pressure eased due to weakening raw material methanol prices, producers slightly lowered their quotes. Meanwhile, demand from downstream wood-based panel manufacturers weakened, with most buyers focusing on fulfilling existing orders. Chempricehub forecasts that the formaldehyde market will likely trade in weak consolidation in the short term.
Methanol: Today, sentiment in the domestic methanol market shifted significantly. Futures opened higher before pulling back and consolidating at elevated levels throughout the day. Near-term contracts saw follow-through based on actual demand, while basis spreads remained narrow; far-term contracts were slightly stronger. Market participants closely monitored how fluctuations in commodity futures impacted the physical spot market. Inland markets were weaker in the morning but strengthened in the afternoon as tender prices for downstream users in Northern Shandong were released, reigniting buying interest. In the short term, given that supply-demand contradictions are not significant, the market is expected to consolidate with a slight upward bias. Additionally, attention remains on the impact of operational changes at various domestic methanol projects.
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