According to the Commodity Market Analysis System of Shengyishe, as of December 14th, the average quoted price of 85% industrial grade formic acid enterprises in China was 3325.00 yuan/ton, which remained unchanged compared to Monday and increased by 10.83% compared to the same period last year.
This week, the domestic industrial grade 85% formic acid market has been operating steadily, with enterprise quotations ranging from 3000 to 3500 yuan/ton. Recently, the upstream sulfuric acid market prices have been weak and stable, while the upstream methanol market has been weak and consolidating, with weak cost support. Downstream industries such as pharmaceuticals, rubber, leather, and pesticides are mostly purchasing according to demand, and the enthusiasm for inquiry procurement is still good. Enterprises often quote prices around the range based on their own situation. According to the Commodity Market Analysis System of Business Society, on December 14th, industrial grade 90% formic acid enterprises quoted around 3700-4000 yuan/ton, and on December 14th, industrial grade 94% formic acid enterprises quoted around 4200-5000 yuan/ton.
Business Society formic acid analysts believe that the current cost support is average, and downstream companies need to follow up. Holders are actively shipping, and it is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term. More attention still needs to be paid to market news guidance.
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