SunSirs: Brief Introduction of Domestic Formic Acid Price Trend on May 19
May 21 2020 14:25:35 SunSirs (John)
Price trend
The average price of formic acid samples on May 19 was 2,016.67 RMB/ton, the price fell by 5.47% from the former day, and the price was at a historical low. At present, the formic acid market is weak and stable, and some manufacturers have adjusted. Jinzhou Jinhongda offers 2,000 RMB/ton, Zibo Pulisi offers 1,750 RMB/ton, and Hangzhou Fengchang Trading Co., Ltd. offers 2,300 RMB/ton.
The main domestic formic acid manufacturers' equipment is operating normally, and there is sufficient supply on the market. However, due to the recent restrictions on the export of goods, formic acid prices are low. Downstream pesticides, leather and other industries are affected by environmental protection and other factors, the operating rate of the device is not high, and the enthusiasm for receiving goods is average. The pharmaceutical industry purchases on demand, and the upstream costs are still supportable. At present, formic acid is in a market situation where supply exceeds demand. Affected by the market supply and demand, it is expected that the short-term formic acid prices will still run weakly.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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