SunSirs: Formic Acid Market Operated Stably at a High Level (April 14-19)
April 20 2023 13:47:35 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of April 19th, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 3,875.00 RMB/ton, which was unchanged from last Friday (April 14th).
Analysis review
Recently, the domestic industrial grade 85% formic acid market remained high and stable. Recently, the price of raw material sulfuric acid dropped, and the market for raw material methanol was stronger, and the cost support was limited. The downstream pesticide, rubber, leather, and pharmaceutical industries purchased goods according to market demand, with rigid demand as the main focus, and the focus of negotiations in the formic acid market was stable.
Upstream product: upstream sulfuric acid. On April 18, the price of domestic sulfuric acid market fell slightly, 13.33 RMB/ton, 5.03% lower than that on April 17, 79.11% lower than that on the same period last year; Upstream methanol, according to the Commodity Market Analysis System of SunSirs, the reference price for methanol on April 18th was 2,540.83 RMB/ton, a decrease of 0.81% compared to April 1st (2,561.67 RMB/ton).
Market outlook
SunSirs formic acid analysts believe that the current cost support is average, and market transactions are mainly based on demand. It is expected that the domestic industrial grade 85% formic acid market will mainly be stable in the short term, and more attention needs to be paid to
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- 2024-04-22 SunSirs: The Formic Acid Market Remained Stable with Minor Fluctuations, with Active Shipments as the Main Focus
- 2024-04-15 SunSirs: The Formic Acid Market Continues to Operate Steadily (April 8-12)
- 2024-04-08 SunSirs: The Price of Formic Acid Was Stable, and Market Transactions Were on Demand
