Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 7th, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 3,875.00 RMB/ton, which was unchanged compared to Monday's price.

Analysis review

This week, the formic acid market continued to maintain a stable trend, with a price center of around 3,900 RMB/ton, without significant fluctuations. Recently, the price of raw material sulfuric acid was weak and stable, and the market for raw material methanol fluctuated in a narrow range. The cost support was average, and downstream replenishment on demand was stable. The trading atmosphere in the formic acid market continued to be at the previous level.

Upstream product: Upstream sulfuric acid. According to the Commodity Market Analysis System of SunSirs, the reference price for sulfuric acid was 188.00 RMB/ton on July 6th, a decrease of 2.08% compared to July 1st (192.00 RMB/ton); Upstream methanol, according to the Commodity Market Analysis System of SunSirs, the reference price for methanol on July 6th was 2,155.83 RMB/ton, a decrease of 1.11% compared to July 1st (2,180.00 RMB/ton).

Market outlook

SunSirs’s formic acid analysts believe that as of the 7th, the cost side impact was temporarily limited, and the supply and demand side support was still acceptable. It is expected that the domestic industrial grade 85% formic acid market may still mainly remain stable in the short term, and more attention needs to be paid to market news guidance.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.