SunSirs: Some Manufacturers have Lowered the Factory Price of Formic Acid

Latest price of formic acid (August 23): 3825.00 RMB/ton, stable in the market

Key points of analysis: On August 23, the domestic industrial grade 85% formic acid market was mainly stable, with some enterprise prices decreasing by 1.29% compared to the previous trading day. Recently, the price of raw material sulfuric acid has steadily risen, the market for raw material methanol has risen, and cost support has increased. Some enterprises have lowered prices to ship due to inventory pressure, while downstream industries such as pharmaceuticals, rubber, leather, and pesticides have followed up on demand. The market atmosphere is mild, and holders ship according to the market, with the price focus temporarily on stability.

Future forecast: It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention needs to be paid to market news guidance.

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