According to the Commodity Market Analysis System of the Business Society, as of May 11th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3875.00 yuan/ton, which is unchanged compared to Monday’s price.
Recently, there has been no significant fluctuation in the domestic industrial grade 85% formic acid market, and enterprise quotations have generally remained stable. In the near future, the raw material sulfuric acid market is mainly stable, and the raw material methanol market is weak, with little impact on the cost. The normal shipment of enterprises is mainly, the downstream inquiry procurement continues to be just needed, and the price center of formic acid market is stable.
Upstream product: Upstream sulfuric acid. According to the Commodity Market Analysis System of Business Society, the reference price for sulfuric acid was 210.00 on May 10th, a decrease of 3.82% compared to May 1st (218.33); Upstream methanol, according to the Commodity Market Analysis System of Business Society, the reference price for methanol on May 11th was 2360.00, a decrease of 2.61% compared to May 1st (2423.33).
Business Society formic acid analysts believe that currently, upstream sulfuric acid and methanol prices are operating weakly, with slightly weaker cost support. Market transactions are mainly based on demand, and enterprise quotations follow the market. It is expected that the domestic industrial grade 85% formic acid market may remain stable in the short term, and more attention needs to be paid to changes in raw material prices.
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