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SunSirs: The Domestic Formic Acid Market Rose on March 24

March 26 2020 13:03:56     SunSirs (John)

According to the monitoring of SunSirs: On March 24th, the domestic market price of 85% industrial water purification formic acid was around 2,283.33 RMB/ton, and the price rose by 17.09% compared with March 23, the fluctuation range is large. Today, the domestic 85% formic acid market has broken the previous trend of maintaining stability and rose slightly.

It is understood that due to the shortage of goods, some manufacturers have reduced the market supply, and the enterprises have raised their prices by around 300 RMB/ton. At present, the price of domestic 85% industrial water purification formic acid is generally maintained around 2,000-2,900 RMB/ton. Jinzhou Jinhongda Chemical Co., Ltd. is priced at 2,150 RMB/ton; Zibo Price Chemical Co., Ltd. is temporarily out of quote and is expected to report next week; Hangzhou Fengye Trading Co., Ltd. is priced at 2,900 RMB/ton. The market for the upstream product liquid ammonia market is good, the liquid ammonia market has sufficient and orderly supply, and the price continues to rise steadily. The domestic caustic soda market is stable for the time being, and the goods are still acceptable. The downstream leather, pesticide and other industries have a fair demand for formic acid.

It is expected that the domestic 85% formic acid market will improve in the short term.

 

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