According to the bulk list data of business cooperatives, as of November 7, the average price quoted by formic acid enterprises was 3033.33 yuan/ton, 22.15% higher than that on Wednesday (November 2), 13.33% lower than that on October 7, and 24.79% lower than that on a three-month cycle.
| PVA |
Recently, the market price of 85% industrial formic acid in China has risen. The main reason for this price increase is that: a large factory has the news of maintenance plan, the market supply is expected to shrink, which has boosted the market’s price mentality. In addition, some enterprises’ export orders have increased. On November 7, some enterprises’ quotations rose by 900 yuan to 3250 yuan/ton. Domestic downstream pharmaceutical, rubber, leather, pesticide and other industries’ procurement followed up as required, and the market delivery and investment were orderly.
In terms of cost: upstream sulfuric acid, the domestic sulfuric acid market price fell on November 7; Upstream methanol. According to the monitoring data of the business community, the average price of East China ports in the domestic methanol market rose from 2790 yuan/ton to 2828 yuan/ton from October 31 to November 7. The price rose 1.36% in the cycle; The cost has little effect on formic acid.
According to the formic acid analysts of the business community, the current cost support is limited, the mainstream production enterprises have started relatively high, the domestic downstream demand is mainly stable, and the export order performance is fair. In the short term, the domestic industrial grade 85% formic acid market may absorb the growth, so more attention should be paid to the market news.
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