Sluggish market sentiment has pushed the price center of formaldehyde downward.

1. Key Focus Points

① Formaldehyde market center of gravity shifted downward.
② Domestic methanol markets showed mixed trends (gains and losses).

2. Daily Market Review and Outlook

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

Taking the Shandong region as the benchmark, formaldehyde closed at 1,710 CNY/ton today, a week-on-week decline of 1.72%. The market center of gravity for formaldehyde moved lower today. While feedstock methanol remained stable with a slightly bullish trend, providing good cost support, downstream wood panel buyers dominated negotiations with price-cutting expectations. Facing inventory reduction pressure, factories were forced to offer discounts to facilitate shipments. Although negotiations were active, overall transaction volumes remained average. Chempricehub Intelligence forecasts that the formaldehyde market will likely trade within a range in the short term.

3. Related Product Markets

Methanol: Today, the domestic methanol market sentiment started weak before strengthening. Futures opened lower but gradually stabilized into a consolidation phase. Currently, near-term cargo circulation at ports remains limited; holders are maintaining firm prices while selling, leading to strong basis trading. Overall transaction volumes were moderate. In inland markets, morning sentiment was weak, with some enterprise tenders failing to attract bids. However, in the afternoon, inquiries from an olefin plant in Inner Mongolia stimulated demand, improving buyer sentiment and allowing some enterprises to secure deals at premium prices during tenders. In the short term, the market is expected to fluctuate within a narrow range. For the medium term, caution is advised regarding potential inventory buildup due to reduced MTO (Methanol-to-Olefins) demand and the resumption of operations at several maintenance-shut methanol plants.