Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 21, the average price of domestic industrial grade 85% formic acid quoted by formic acid enterprises was 3,875.00 RMB/ton, which was unchanged compared to Monday's price and a decrease of 0.64% compared to the same period last year.

Analysis review

From the monthly K-bar chart of SunSirs, it can be seen that the domestic industrial grade 85% formic acid market was operating steadily in the past three months, and the focus of market negotiations remained around 3,900 RMB/ton.

This week, the industrial grade 85% formic acid market remained stable, and there was no significant change in enterprise quotations. Recently, the price of raw material sulfuric acid was weak, and the market for raw material methanol was narrowly sorted out. The cost support was slightly weak, and downstream industries such as pharmaceuticals, rubber, leather, and pesticides followed up mainly on demand. The supply and demand side support was stable, and the price of formic acid continued to be stable.

Market outlook

SunSirs formic acid analysts believe that the domestic industrial grade 85% formic acid market is expected to stabilize in the short term, and more attention needs to be paid to market news guidance.

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