According to the Commodity Market Analysis System of Business Society, as of May 9th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3287.50 yuan/ton, which is basically unchanged compared to Monday’s price.
The post holiday formic acid market is mainly stable, with some companies adjusting their prices. The mainstream quotation range for industrial grade 85% formic acid companies is between 2800-3400 yuan/ton. Recently, the main raw material methanol market price has fluctuated narrowly and risen, with reasonable cost support. However, downstream buying is flat, and the trading atmosphere on the market is average. Some companies are offering discounts to stimulate shipments, and the focus of negotiations in the formic acid market is stable but loose.
Business Society formic acid analysts believe that the current market supply and demand performance is deadlocked, with short-term cost support or remaining. The demand side follows suit and performs generally, with more purchases made on demand. Holders are actively shipping, and it is expected that the formic acid market will stabilize slightly in the short term. The specific trend needs to pay more attention to market consumption guidance.
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