Price trend

According to the commodity market analysis system of SunSirs, formic acid has been fluctuating recently. As of September 1, the SunSirs benchmark price of 85% industrial-grade formic acid was 3,353 RMB/ton, up 25.59% from the previous month and up 25.75% from the previous year.

Analysis review

With the arrival of the "Golden September and Silver October" on the demand side, downstream expectations may improve

Supply pressure in foreign trade has eased somewhat, while export orders have shrunk month-on-month. In the domestic market, with the "Golden September and Silver October" approaching, production in downstream sectors like pharmaceuticals was gradually recovering, potentially increasing demand for formic acid. However, formic acid prices were temporarily at a yearly high, leading to cautious purchasing behavior among end-users.

Major manufacturers have maintenance plans, and inventory pressure may ease

Market news said that a large factory in Liaocheng planned to carry out equipment maintenance this month. Under the influence of this expectation, the high inventory of formic acid is expected to ease and the price may rise.

Future outlook:

Analysts of formic acid data at SunSirs believe that with multiple positive factors, the price of formic acid is expected to rise.

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