SunSirs: After the Holiday, Inventory Increased and Formic Acid Prices Decreased

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of formic acid has recently experienced a correction. As of May 6th, the average price of 85% industrial grade formic acid in China was 3,033 RMB/ton, a decrease of 4.21% from 3,166 RMB/ton at the end of April before the holiday, and a decrease of 7.73% from 3,287 RMB/ton at the same time last year.

Analysis review

Supply side: The production line of Asde formic acid has recently resumed production, with increased power output and sufficient on-site supply.

On the demand side: The performance on the demand side was average, and there were temporarily no strong supporting products. The market for pharmaceuticals and pesticides was average, and seasonal demand support was limited. The demand recovery in the leather industry was not satisfactory, and it is expected to continue to be weak.

In terms of cost, the basic pattern of methanol raw material remained weak, showing a weak situation of increasing supply and decreasing demand.The support for formic acid Weakened .

Market outlook

The formic acid data analyst from SunSirs believes that the main producers of formic acid were all producing normally, with an increase in supply and weak cost support. It is expected that formic acid will operate weakly, and specific market supply and demand news still needs to be monitored.

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