SunSirs: The Formic Acid Market Was Stable (April 4-11)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of April 11th, 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 last Tuesday (April 4th).

Analysis review

This week, the domestic industrial grade 85% formic acid market remained stable at a high level. Recently, the price of raw material sulfuric acid had been stable, while the market for raw material methanol had been weak, and the cost support had weakened. The main downstream formate market was mainly based on demand procurement, and the market inquiry atmosphere was acceptable. The price center of formic acid was mainly high and stable.

Upstream product: upstream sulfuric acid. Recently, the price of domestic sulfuric acid market stabilized. According to the commodity market analysis system of SunSirs, the reference price of sulfuric acid was 256.67 RMB/ton on April 10, up 6.95% compared with that of April 1 (240.00 RMB/ton); Upstream methanol, according to the Commodity Market Analysis System of SunSirs, the reference price for methanol on April 10th was 2,401.67, a decrease of 6.25% compared to that of April 1st (2,561.67 RMB/ton).

Market outlook

SunSirs formic acid analysts believe that the current cost impact is not significant, supply and demand support is still acceptable, and market trading is orderly. It is expected that the domestic industrial grade 85% formic acid market will mainly operate at high levels in the short term, and more attention needs to be paid to market news guidance..

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