According to the Commodity Market Analysis System of the Business Society, as of April 19th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3875.00 yuan/ton, which is unchanged compared to last Friday (April 14th).
Recently, the domestic industrial grade 85% formic acid market has remained high and stable. Recently, the price of raw material sulfuric acid has dropped, and the market for raw material methanol is relatively strong. The cost support is limited. The downstream pesticide, rubber, leather, and pharmaceutical industries purchase goods according to market demand, with rigid demand being the main focus. The focus of negotiations in the formic acid market is stable.
Upstream product: upstream sulfuric acid. On April 18, the price of domestic sulfuric acid market fell slightly, 13.33 yuan/ton, 5.03% lower than that on April 17, 79.11% lower than that on the same period last year; Upstream methanol, according to the Commodity Market Analysis System of Business Society, the reference price for methanol on April 18th was 2540.83, a decrease of 0.81% compared to April 1st (2561.67).
Business Society formic acid analysts believe that the current cost support is average, and market transactions are mainly based on demand. It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention needs to be paid to market news guidance.
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