China Formaldehyde Market Will Fluctuate In 2023

Time: Jan 19, 2024

The main use of hexamine is to produce powder or liquid preparations of phenolic resin and phenolic resin molding compounds, and is added as a hardening component. These products are used as adhesives, for example for brake and clutch linings, abrasive products, nonwovens, molded parts produced by molding processes and fire protection materials. Hexamethylenetetramine can be prepared by reacting formaldehyde with ammonia. Today Huafu Chemicals will share with you the latest formaldehyde market conditions.

 formaldehyde market price

The average price of formaldehyde in Shandong at the beginning of the year was 1,200.00 yuan/ton. At the end of the year, the average price of formaldehyde in Shandong was 1,076.67 yuan/ton, a decrease of 2.22%. The highest point was March 1 and the average price was 1,283.33 yuan/ton. The lowest point was June 15. The daily price was 1076.67 yuan/ton, with the lowest point falling 16.10% from the highest point.

 hexamine chemical powder

The formaldehyde market in Shandong will fluctuate in 2023. As can be seen from the above figure, formaldehyde will be on an upward trend for 4 months in 2023. The highest increase in a single month was in August, reaching 6.73%. The increase is mainly due to the fluctuation in international crude oil prices, the rise in raw material methanol prices, and the sharp rise in formaldehyde prices. Formaldehyde has been on a downward trend for 7 months in 2023, with the largest decline occurring in May, reaching 5.34%.


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