Price trend

According to the Commodity Market Analysis System of SunSirs, the domestic formic acid market has been operating weakly and steadily recently. As of July 14th, the benchmark price of 85% industrial grade formic acid in China was 2,400 RMB/ton, unchanged from the beginning of the month and at a low level for the year.

Analysis review

The upstream caustic soda prices were in a stronger operating trend, and the recent demand was still acceptable, supporting the firm operation of caustic soda prices. The comprehensive supply-demand game predicts that caustic soda will maintain a strong operating trend in the later stage,

The demand for upstream liquid ammonia in the market has been relatively weak recently, with agricultural and industrial demand mainly following suit. There will be little change in future supply, and the equipment will be on and off, showing a slow increasing trend overall.

The downstream leather and pesticide industries had a relatively stable demand for formic acid, and the sales situation was average.

Future outlook:

In summary, there was no clear positive signal for the upstream and demand of formic acid, and it is expected that the formic acid market will operate weakly. Specific market changes still need to be monitored.

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