According to the bulk list data of the Business News Agency, as of February 8, the average price of domestic industrial 85% formic acid enterprises was 3300.00 yuan/ton, up 8.79% from February 1.
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Since February, the market price of 85% industrial grade formic acid in China has risen steadily. Recently, the price of raw material sulfuric acid has been stable, and the price of raw material methanol has been shaken and sorted out. The cost has been supported to some extent. In the early stage, the mainstream enterprises have temporarily reduced their volume, controlled their inventory, and the export market is stable. The domestic market deals are just needed, and the price of formic acid has risen.
Upstream products: upstream sulfuric acid, the domestic market price of sulfuric acid was temporarily stable on February 8, and the reference price of sulfuric acid was 231.67 on February 7, which was the same as that on February 1; For upstream methanol, the reference price of methanol was 2712.86 on February 7, down 2.42% from February 1 (2780.00).
According to the formic acid analyst of the Business Society, the current cost support is still good, and the downstream demand is expected to recover, the domestic industrial 85% formic acid market may be strong in the short term, and more attention should be paid to the market news guidance.
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