SunSirs: The Market Price of Formic Acid Was Stable, and Transactions Were on Demand
December 08 2023 10:56:50 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of December 7th, the average quoted price of 85% industrial grade from formic acid enterprises in China was 3,325.00 RMB/ton, which remained unchanged compared to the beginning of the month and increased by 10.83% compared to the same period last year.
Analysis review
Since December, there had been no significant fluctuation in the domestic industrial grade 85% formic acid market as a whole, and enterprise quotations had remained stable in the range of 3,100-3,500 RMB/ton. In recent times, the upstream sulfuric acid market prices had fallen first and then stabilized, while the upstream methanol market had narrowed and stabilized. The cost support was average, and downstream inquiries and purchases were mainly in demand. The market trading performance was stable. According to the Commodity Market Analysis System of SunSirs, on December 7th, industrial grade 90% formic acid enterprises quoted around 3,700-4,000 RMB/ton, and on December 7th, industrial grade 94% formic acid enterprises quoted around 4,200-4,500 RMB/ton.
Market outlook
SunSirs’ formic acid analysts believe that the cost impact was not significant, and enterprise quotations were mainly stable. Market transactions were mainly in demand, and it is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term. More attention still needs to be paid to market news guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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