According to the Commodity Market Analysis System of the Business Society, as of August 15th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3875.00 yuan/ton, which is unchanged compared to last Friday (August 11th) and an increase of 2.88% compared to the same period last year.
Recently, the domestic industrial grade 85% formic acid market has continued to operate steadily, with the focus of market negotiations at around 3900 yuan/ton, without significant fluctuations. Recently, the trend of raw material sulfuric acid has risen, while the market for raw material methanol has fluctuated slightly. The cost support has increased, and the enthusiasm for downstream inquiries and procurement is still good. The main focus of market negotiations is on stability, with the continuation of transactions and demand.
Business Society formic acid analysts believe that the current cost side has increased, and downstream procurement is mainly based on demand. The market has a wait-and-see mentality, and it is expected that the domestic industrial grade 85% formic acid market will operate steadily in the short term. More attention should be paid to market news guidance.
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