Huafu Factory is a manufacturer of melamine resin molding powder. The raw material for making food grade melamine tableware is melamine, pulp and formaldehyde. What Huafu shares with factories today is the market situation of formaldehyde.

Recently, the formaldehyde market in Shandong has fluctuated and risen. The average price of formaldehyde in Shandong at the beginning of the week was 1206.67 yuan/ton, and the average price of formaldehyde in Shandong was 1246.67 yuan/ton (about 178 US dollars/ton) at the weekend, an increase of 3.31%. The current price is up year-on-year up 5.06%.

It can be seen from the above figure that the recent price of formaldehyde has fluctuated slightly, and the market has risen this week. As of February 2, the mainstream market price in Shandong is 1200-1300 yuan/ton. Recently, after the Spring Festival, due to the low price of formaldehyde in the early stage, formaldehyde manufacturers have a strong willingness to raise prices, and the formaldehyde market has risen.

Recently, the methanol market has fluctuated, and the cost support is still acceptable. The superimposed formaldehyde inventory is currently controllable. Huafu Chemicals expects that the price of formaldehyde in Shandong will mainly fluctuate and rise in the near future.