According to the market analysis system of SunSirs: the price of formic acid has continued to fall recently. As of May 12, the domestic benchmark price of 85% industrial-grade formic acid was 2,800 RMB/ton, down 11.58% from 3,166 RMB/ton at the beginning of the month, and down 5.08% from 2,950 RMB/ton at the beginning of the year, which is the lowest level of the year.

Shipments were blocked during the May Day holiday

During the May Day holiday, companies were blocked from shipping, downstream purchases were limited, and inventory accumulated. After the holiday, manufacturers and distributors had a strong desire to clear their warehouses, and prices fell.

Tariff policy leads to downstream wait-and-see

Although my country's formic acid exports are mainly to Southeast Asia, this tariff adjustment affects downstream shipments, and the downstream wait-and-see atmosphere is mainly, and there is no large demand for stocking.

SunSirs formic acid data analysts believe that: the current formic acid inventory is accumulated, and the downstream purchasing intention is weak. It is expected that formic acid will still be weak in the short term, and specific market changes need to be paid attention to.

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