SunSirs: The Formic Acid Market Was Operating Steadily (August 11-15)
August 17 2023 14:12:02 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of August 15th, the average price of industrial grade 85% formic acid quoted by domestic formic acid enterprises was 3,875.00 RMB/ton, which was unchanged compared to last Friday (August 11th) and an increase of 2.88% compared to the same period last year.
Analysis review
Recently, the domestic industrial grade 85% formic acid market continued to operate steadily, with the focus of market negotiations at around 3,900 RMB/ton, without significant fluctuations. Recently, the trend of raw material sulfuric acid rose, while the market for raw material methanol had fluctuated slightly. The cost support increased, and the enthusiasm for downstream inquiries and procurement was fair. The main focus of market negotiations was mainly stable, and the transactions continued to be on demand.
Market outlook
SunSirs’ formic acid analysts believe that as of August 15th, the cost side had increased, and downstream purchases were mainly based on demand. The market had a wait-and-see mentality, and it is expected that the domestic industrial grade 85% formic acid market will be stable and consolidated in the short term. More attention should be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-30 SunSirs: The Formic Acid Market Remained Stable and Slightly Weaker in April
- 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
- 2024-03-29 SunSirs: The Formic Acid Market Slightly Increased in March (March 1-27)
