According to the Commodity Market Analysis System of Business Society, as of July 9th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 2680 yuan/ton, a decrease of 8.38% compared to June 9th.
Cost side: The domestic methanol market is mainly characterized by weak fluctuations and overall sufficient supply, resulting in a decrease in capacity utilization. The supply side of methanol is influenced by favorable factors.
Supply and demand side: On the supply side, the main manufacturers of formic acid are producing normally, and the market circulation of goods is relatively sufficient. On the demand side, the downstream purchasing atmosphere of formic acid needs to be improved, and the transaction orders are limited. Overall, both supply and demand have no positive support for the formic acid market.
Business Society formic acid analysts believe that the current formic acid market has sufficient supply and weak downstream demand. It is expected that in the short term, the formic acid market may continue to consolidate weakly, and more attention needs to be paid to downstream market demand.
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