SunSirs: The Formic Acid Market Operated Stably (4.20-4.24)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of April 24th, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 3,875.00 RMB/ton, which was the same as the price last Thursday (April 20th).

Analysis review

Recently, the domestic industrial grade 85% formic acid market was operating steadily. Recently, the market of raw material sulfuric acid was weaker, and the market of raw material methanol was stronger. The change in cost had little impact. The downstream market mainly replenished goods on demand before the holiday, the market negotiation atmosphere was mild, the transaction was orderly, and the formic acid market price center was stable.

Upstream product: Upstream sulfuric acid. According to the Commodity Market Analysis System of SunSirs, the reference price for sulfuric acid on April 21 was 235.00 RMB/ton, a decrease of 2.08% compared to April 1 (240.00 RMB/ton); Upstream methanol, according to the Commodity Market Analysis System of SunSirs, on April 21, the reference price for methanol was 2,570.00 RMB/ton, an increase of 0.33% compared to April 1 (2,561.67 RMB/ton).

Market outlook

SunSirs formic acid analysts believe that as of the 24th, raw material prices had fluctuated, with limited impact on the cost side. Downstream was orderly socking on-demand before festivals, and the market atmosphere was fair. It is expected that the domestic industrial grade 85% formic acid market will operate at a high level in the short term, and more attention needs to be paid to market news guidance.

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