Formic acid market overall fell this week (4.6-4.10)

As of April 10, the weekly average price of domestic industrial grade purified water formic acid was 2300 yuan / ton, down 2.13%, according to the data of business agency. The overall weakness of formic acid market fell this week.

2、 Market analysis

Product: this week, the domestic industrial grade 85% purified water formic acid market was generally weak and stable, with the overall price down 2.13%. In terms of equipment: the manufacturer’s equipment is basically in normal operation, and the delivery is acceptable. This week, the supply of formic acid market continued to last week, and the enterprise’s inventory is acceptable. In terms of price: this week, the company’s quotation is basically around 2300 yuan / ton, the main factory price of formic acid is about 1850-2400 yuan / ton, and the main dealers’ quotation is 2600-3200 yuan / ton. Last week, due to the supply and demand of some manufacturers and equipment problems, the price was raised. This week, due to the moderation of supply and demand, the price dropped. As of Friday (April 10), Hangzhou Fengchang Trade Co., Ltd. has offered 2900 yuan / ton; Zibo Pulis Chemical Co., Ltd. 1850 yuan / ton; Jinzhou jinhongda Chemical Co., Ltd. 4200 yuan / ton; Zhangzhou San’an Chemical Co., Ltd. 2000 yuan / ton.

Industrial chain: the price of liquid ammonia, the upstream product of formic acid, has been running steadily in many places, and the terminal has gradually replenished to support the current stable price. The domestic caustic soda market is now down. The upstream products generally support the formic acid market, while the demand for leather and pesticide industries of the downstream products does not increase significantly, and there is not much trading.

3、 Future forecast

According to the formic acid data division of business association, at present, the overall weakness of domestic industrial grade 85% formic acid market tends to be stable, enterprises generally maintain stability and wait and see, part of the quotation is reduced, the market supply is acceptable, and the downstream demand is deficient. It is expected that the domestic industrial grade 85% formic acid market will be consolidated in the short term.