China's Export Price for Paraformaldehyde in June 2023 Declines to $712/Ton

China

In June 2023, the export price of paraformaldehyde from China dropped to $712 per ton, representing a decrease of 2.1% compared to the previous month. The export price displayed a slight contraction during the review period. The most significant growth in export price occurred in January 2023, with a 1.2% increase compared to the previous month. The peak export price of $884 per ton was reached in June 2022, but from July 2022 to June 2023, the export prices remained slightly lower. Notably, the average prices varied across major overseas markets. South Korea and Tanzania had the highest prices in June 2023 at $828 per ton and $716 per ton, respectively, while Nigeria and Myanmar had among the lowest prices at $655 per ton and $663 per ton, respectively. The highest rate of price growth from June 2022 to June 2023 was observed in supplies to Bangladesh, with a decrease of 0.8%, while the prices for other major destinations experienced a decline. The exports of paraformaldehyde from China decreased by 21.5% to 4.7K tons in June 2023, marking the first decline since February 2023 and ending a three-month rising trend. Despite this, overall exports remained relatively flat. In terms of value, exports remarkably contracted to $3.4M in June 2023. Nigeria, Djibouti, and South Korea were the main destinations for China's paraformaldehyde exports, accounting for 64% of total exports. South Korea experienced the highest growth rate in shipments, with a CAGR of +10.0% from June 2022 to June 2023. In terms of value, Nigeria, South Korea, and Djibouti were the largest markets for China's paraformaldehyde exports, comprising a combined 64% share of total exports. South Korea also saw the highest growth rate in export value, with a CAGR of +8.5% during the review period.

Source: IndexBox Market Intelligence Platform

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