Price trend

According to the monitoring data of SunSirs, as of December 21, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 3,000.00 RMB/ton, which was the same as that of last Thursday (December 15).

Analysis review

Recently (12.15-12.21) the market price of domestic industrial grade 85% formic acid kept stable. Recently, the price of raw material sulfuric acid fell, the price of raw material methanol was weakly sorted out, and the cost support was weak. The downstream inquiry and procurement efforts were fair, the enterprise mainly delivered goods, the market delivery was orderly, and the negotiation focus continued to operate smoothly.

Upstream product: upstream sulfuric acid. On December 20, the domestic sulfuric acid market price fell. On December 20, the reference price of sulfuric acid was 296.67 RMB/ton, down 5.31% compared with December 15 (313.33 RMB/ton); On December 20, the reference price of upstream methanol was 2,640.00 RMB/ton, down 1.43% compared with that on December 15 (2,678.33 RMB/ton).

Market outlook

The formic acid analysts of SunSirs believe that the current cost support is limited, the supply and demand support is fair, and the market transaction is mainly just on demand. In the short term, the domestic industrial grade 85% formic acid market may still be stable, and more attention should be paid to the downstream demand for pre holiday stock.

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