Price trend

According to the Commodity Market Analysis System of the SunSirs, as of October 18th, the average price of domestic industrial grade 85% formic acid quoted by formic acid enterprises was 3,375.00 RMB/ton, which was unchanged compared to last Friday (October 13th).

Analysis review

Recently, the domestic industrial grade 85% formic acid market had been operating steadily. Recently, the raw material sulfuric acid market was operating weakly and steadily, and raw material methanol fluctuated in a narrow range, the cost support wass limited, and downstream procurement was just in needed. The market trading atmosphere was still good, and the holders followed the market to ship. The enterprise quotation range was between 3,200-3,500 RMB/ton, and the focus of negotiations in the formic acid market was mainly stable.

Market outlook

SunSirs’ formic acid analysts believe that as of the 18th, the impact of formic acid cost was not significant, and market trading was orderly. It is expected that the domestic industrial grade 85% formic acid market will be mainly stable in the short term, and more market news guidance still needs to be paid attention to.

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