SunSirs: The Formic Acid Market Was Stable (December12-15)
December 16 2022 09:18:00 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of December 15, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 3,000.00 RMB/ton, which was the same as the price on Monday.
Analysis review
This week (12.12-12.15), the market price of domestic industrial grade 85% formic acid was stable. This week, the raw material sulfuric acid was stable first and then rose. The price of raw material methanol was weak, and the cost impact was average. Domestic downstream procurement was mainly based on demand, and the export market was fair. Most enterprises shipped steadily, and the market procurement and sales were orderly.
Upstream product: upstream sulfuric acid. On December 15, the domestic sulfuric acid market price rose. On December 14, the reference price of sulfuric acid was 303.33 RMB/ton, a decrease of 5.7% compared with December 1 (321.67 RMB/ton). On December 14, the reference price of upstream methanol was 2,683.33 RMB/ton, which was 0.06% higher than that on December 1 (2,681.67 RMB/ton).
Market outlook
The formic acid analysts of SunSirs believe that the current cost impact is limited, the market negotiation atmosphere is mild, and the transaction is orderly. In the short term, the domestic industrial grade 85% formic acid market may be stable, and more attention should be paid to the market news guidance.
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