Formic acid market fell (8.1-8.10)

According to the data of the bulk list of business agencies, as of August 10, the average price of formic acid enterprises was 3766.67 yuan / ton, down 6.61% compared with the price on August 1, 1.74% compared with the price on July 10, and 39.89% year-on-year in a three-month cycle.

Recently (8.1-8.10), the market price of domestic industrial grade 85% formic acid fell. Recently, the prices of caustic soda, liquid ammonia and sulfuric acid in the upstream are relatively weak, the main raw material methanol is low-level, the cost side’s support for the formic acid market is weakened, and the downstream is just in need of purchase. The market atmosphere is general, and the focus of negotiation on the industrial grade 85% formic acid market is downward.

In terms of cost: for upstream caustic soda, on August 9, the caustic soda enterprises flexibly adjusted their quotations, but they mainly took a wait-and-see attitude, and comprehensively predicted that they would maintain the consolidation trend in the later period; Upstream liquid ammonia: on August 9, the market of liquid ammonia in Shandong Province stopped falling and stabilized, and the market performance was still weak. Some dealers still fell slightly, with a reduction range of about 50 yuan / ton; Upstream sulfuric acid: on August 9, the reference price of sulfuric acid was 522.00, a decrease of 14.71% compared with August 1 (612.00); For upstream methanol, according to the monitoring data of business agency, on August 9, the domestic methanol in East China port was about 2490 yuan / ton, down 2.23% from the previous working day. On August 9, the main contract m2209 of methanol futures closed at 2488 yuan / ton, down 59 yuan / ton or 1.54% compared with the closing of the previous trading day.

According to the formic acid analysts of business society, the current raw material price is weak, the cost support is insufficient, and the market transaction is on demand. It is expected that in the short term, 85% of the domestic industrial grade formic acid market will be weak, and more attention should be paid to the changes in raw material prices.