Price trend

According to the Commodity Market Analysis System of SunSirs, as of July 15th, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 2,687 RMB/ton, which was basically the same as Monday's price.

Analysis review

In early July, the formic acid market was mainly stable, with some enterprises adjusting their prices. The mainstream quotation range for industrial grade 85% formic acid of enterprises was between 2,800-3,200 RMB/ton. Recently, the market price of methanol, the main raw material, had fluctuated and risen narrowly. Some units were expected to undergo maintenance, and the low inventory of production enterprises had supported the improvement of the mainland market.

Market outlook

The formic acid analyst from SunSirs believes that the market supply and demand performance was deadlocked, with production and sales balanced, and there will be no favorable factors in the short term. It is expected that the formic acid market will fluctuate, and specific changes in supply and demand still need to be monitored.

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