Prices of Paraformaldehyde (PFA): Trend during the Q2 of 2023 | ChemAnalyst

For the Quarter Ending June 2023

North America:

In comparison to the previous quarter, the North American Paraformaldehyde market witnessed a decline marked by weak trading fundamentals. By June 2023, the price of Paraformaldehyde in the US had fallen to USD 1622/ton FOB Michigan. While the supply of Paraformaldehyde remained ample to meet downstream market needs, the lackluster performance of downstream enterprises continued. Exports of Paraformaldehyde from the US to South America also remained sluggish, characterized by negotiable pricing terms between suppliers and buyers. The North American market was grappling with oversupply concerns, leading major players to offer discounts on bulk purchases. The feedstock Methanol market was affected, with uncertain offers and bids due to apprehensions regarding a decline in the upstream Natural Gas market. In the downstream disinfectant and adhesive sector, the demand for Paraformaldehyde remained feeble, further compounded by reduced operating costs among enterprises. Players in the US market remained hesitant to anticipate price hikes for Paraformaldehyde due to the limited demand for fresh stock. The price trend demonstrated a downward correction owing to the surplus product supply and weak downstream demand within the region.

Asia Pacific:

During the second quarter of 2023, weak trading fundamentals and increased inventory levels dampened purchasing activities in the Asia Pacific region. In Taiwan, Paraformaldehyde prices remained subdued due to a bearish regional demand and adequate supplies. Sales of Paraformaldehyde from the region to the broader Asian market faced significant sluggishness due to a gradual build-up of product inventories. Many suppliers were equipped with substantial existing stockpiles, leading to a restricted trade dynamics for fresh stock and consequent bearish cost support. Taiwan observed its lowest Paraformaldehyde offers from prominent producers, as no firm offers emerged amidst weak buying interest. The surplus supply, coupled with diminished demand and limited requirements from downstream ventures, hindered any prospects of price hikes in this quarter. Downstream disinfectant and adhesive sectors operated with caution to meet end-client requirements. Paraformaldehyde benchmark prices displayed weakness throughout the quarter, as lackluster demand kept prices on the lower end. In May 2023, the price of 96% Paraformaldehyde in Taiwan declined to USD 880/ton FOB Taichung.

Paraformaldehyde (PFA) Prices: https://www.chemanalyst.com/Pricing-data/paraformaldehyde-pfa-1195

Europe:

Throughout this quarter, the European Paraformaldehyde market faced a slump due to feeble market fundamentals and subdued purchasing activities. With demand remaining lackluster due to an unfavorable supply outlook, the Paraformaldehyde market in Europe kicked off the quarter with fresh rounds of price reductions. Prices dipped below new thresholds owing to the prevailing bearish sentiment in both the upstream and downstream sectors. Trades of Paraformaldehyde on the European market continued to be insufficient, primarily conducted on an as-needed basis. Lower rates were offered by several Paraformaldehyde producers in Germany, reflecting the delicate supply-demand balance. While most suppliers operated at 60-65% rates, further rate reductions weren't deemed practical, as they wouldn't significantly impact fixed production costs. Exports of Paraformaldehyde from Germany to India and other European markets experienced weakness due to adequate product availability within the region. As the quarter concluded in June 2023, the price of 91% Paraformaldehyde in Germany declined to USD 732/ton FOB Hamburg. In the Methanol feedstock market, prices concluded on a weak note, with no definitive bids and offers from suppliers to end-user industries.

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