According to the data of the trade agency’s bulk list, as of August 23, the average price of formic acid enterprises was 3766.67 yuan / ton, which was the same as that of last Thursday (August 18), down 3.42% compared with that of July 23, and down 41.15% year-on-year in a three-month cycle.
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Recently (August 18-august 23), the domestic industrial grade 85% formic acid market price is stable. Recently, the market of caustic soda and liquid ammonia in the upstream has been consolidated, the price of sulfuric acid has been weak and stable, the market of methanol as the main raw material has been shaken and sorted out, the cost side has limited impact on the formic acid market, the downstream is purchased on demand, the market transaction is orderly, and the negotiation focus of industrial grade 85% formic acid market is stable.
In terms of cost: for the upstream caustic soda, on August 23, the price of caustic soda in Shandong Province was adjusted and operated. The mainstream market price was about 1020-1100 yuan / ton. The price of caustic soda was adjusted and operated. The downstream was mainly wait-and-see attitude, and it was expected that the adjustment trend would be maintained in the later period; Upstream liquid ammonia: on the 24th, the price of liquid ammonia in Shandong continued to be stable. The dealers reported that there might be a small margin of profit, and the market range was mainly adjusted in a narrow range; Upstream sulfuric acid: on August 23, the domestic sulfuric acid market price was temporarily stable; For upstream methanol, on August 23, the reference price of methanol was 2475.00, a decrease of 3.13% compared with August 1 (2555.00).
According to the formic acid analysts of the business association, the current impact of the cost side is general, the overall market trading atmosphere is mild, and the holders mainly wait and see. It is expected that in the short term, 85% of the domestic industrial grade formic acid market will be stable, and more attention should be paid to market information and guidance.
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