According to the Commodity Market Analysis System of the Business Society, as of September 20th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3525.00 yuan/ton, a decrease of 2.76% compared to last Friday (September 15th).
Recently, the domestic industrial grade 85% formic acid market has been operating weakly. Recently, the price of raw material sulfuric acid has been running smoothly, and the raw material methanol market has been fluctuating and organizing. The cost support is average, and the supply side supply is sufficient. The downstream inquiry and procurement atmosphere is weak, and the need to wait and follow up is mainly. Some enterprises are under inventory pressure, and the transaction center of the formic acid market is declining. On the 20th, the quotation range for industrial grade 85% formic acid enterprises was between 3200-3600 yuan/ton.
Business Society formic acid analysts believe that the current cost support is limited, and the supply side is sufficient. Downstream procurement is just in demand, and shippers are actively shipping. It is expected that the domestic industrial grade 85% formic acid market may operate weakly in the short term, and more attention still needs to be paid to downstream pre holiday stocking demand.