Price trend

According to the Commodity Market Analysis System of SunSirs, as of January 29th, the average price quoted by formic acid companies was 3,150.00 RMB/ton, which was the same as the price on January 1st.

Analysis review

The domestic industrial grade 85% formic acid market remained stable in January. The price of raw material sulfuric acid steadily declined during the month, while the price of raw material methanol fluctuated and rose. The price of raw materials fluctuated, and its impact on the formic acid market was limited. In the middle of the month, the main manufacturers mainly produced normally, and downstream pre holiday stocking was followed up as needed. Market trading was stable and orderly, and dealers actively shipped and followed the market. The mainstream quotation range was stable, and the market price of industrial grade 85% formic acid was mostly around 3,000-3,500 RMB/ton.

Market outlook

SunSirs’ formic acid analysts believe that the cost support was still acceptable, and market transactions were in high demand. It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention should be paid to market news guidance.

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