SunSirs: The Formic Acid Market Operated Stably (4.20-4.24)
April 25 2023 11:04:09 SunSirs (John)
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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- 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
