According to the Commodity Market Analysis System of Business Society, as of April 7th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3300.00 yuan/ton, which is basically unchanged compared to Monday (formic acid reference price of 3300.00 yuan).
| sulphamic acid |
From the monitoring chart of Business Society data, it can be seen that since April, the domestic industrial grade 85% formic acid market has been operating steadily, with mainstream enterprise quotations ranging from 3100 to 3400 yuan/ton, and actual orders are mainly negotiated.
Price influencing factors:
From a cost perspective, since April, the domestic methanol market prices have been operating in a narrow range of fluctuations, while the raw material sulfuric acid prices have remained roughly stable, and the cost has been generally supported by the formic acid market. From the perspective of supply and demand, the downstream industry’s procurement demand for formic acid is mostly followed by rigid demand consumption, with orderly market trading and relatively stable supply and demand support. The focus of the quotation is mostly on stability.
Business Society formic acid analysts believe that in the near future, the atmosphere in the formic acid market has remained stable, and the short-term cost impact may be limited. Market transactions may continue to be mainly in demand, and it is expected that the formic acid market will remain stable in the short term. We need to observe market news guidance for specific trends.
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