SunSirs: The Price Range of Formic Acid Was Stable, and Downstream Followed up on Demand
January 10 2024 15:01:49 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of January 8th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3,150.00 RMB/ton, which was unchanged from the beginning of the month.
Analysis review
Since January, the domestic industrial grade 85% formic acid market had remained stable, and enterprises adjusted flexibly according to their own situation. The mainstream quotation reference was between 3,100-3,500 RMB/ton. Recently, the upstream sulfuric acid market prices had declined, with narrow fluctuations in the upstream methanol market, weak cost support, and decent demand performance. Downstream enterprises mainly accepted orders just in needed, while the focus of negotiations in the formic acid market was on stability.
Market outlook
SunSirs’ formic acid analysts believe that the cost support was average, the supply side was temporarily stable, and downstream restocking was on demand. It is expected that the domestic industrial grade 85% formic acid market will stabilize and consolidate in the short term, and 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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- 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)
- 2024-03-22 SunSirs: The Formic Acid Market Was Stable and Wait-and-see (March 15-20)
