East China formaldehyde falls on weak demand

06 March 2008 10:03  [Source: ICIS news]

SHANGHAI (ICIS news)--Eastern China formaldehyde producers faced downward selling pressure of up to yuan (CNY) 120/tonne ($17/tonne) this week on thin trading amid weak downstream demand, particularly in the sheet market, sources said on Thursday.

East China prices fell yuan (CNY) 60-120/tonne to around CNY 1,560-1,770/tonne EXWH (ex-warehouse).

Producers in eastern Shandong province also reduced their prices CNY 20/tonne to CNY 1,380-1,500/tonne EXW (ex-works).

However, there was no significant change in southwest China where prices stood in a range of CNY 1,450-1,800/tonne.

In southwest Sichuan province, prices were assessed at CNY 1,450-1,500/tonne EXW in Chengdu and CNY 1,750-1,800/tonne EXW for Chongqing.

($1= CNY 7.11)

For more on formaldehyde visit ICIS chemical intelligence

By: Dolly Wu
+65 6780 4359

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