According to the Commodity Market Analysis System of the Business Society, as of September 6th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3825.00 yuan/ton, which is the same as the price on September 1st and an increase of 1.55% compared to the same period last year.
Since September, there has been no significant fluctuation in the domestic industrial grade 85% formic acid market, and mainstream prices have remained stable. Recently, the price of raw material sulfuric acid has remained high and stable, while the raw material methanol market has experienced narrow fluctuations. The cost support has been stable, with downstream procurement being the main focus and the market trading atmosphere being average. Holders are actively shipping, and the mainstream quotation of enterprises is around 3900 yuan/ton.
Business Society formic acid analysts believe that current cost support still exists, while supply and demand performance is average. It is expected that the domestic industrial grade 85% formic acid market will stabilize and consolidate in the short term, and more attention needs to be paid to changes in demand.
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