In this quarter, the formalin price in the USA surged with strong Natural gas and crude oil prices.Surging tension between Russia and Ukraine kept the Formalin price on the upper end in the domestic market.Feedstock Methanol prices surged and exports to European nationsincreased, creating a supply/demand gap, and resulting in a formalin price hike.The surging demand from Building & Construction enterprises pressured the producers to meet the demand from the consumer's end, which elevated the price.The need for Methanol-based fuel and energyvalues also surged this quarter, consequently increasing prices.