According to the Commodity Market Analysis System of the Business Society, as of July 7th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3875.00 yuan/ton, which is unchanged compared to Monday’s price.

This week, the formic acid market continued to maintain a stable trend, with a price center of around 3900 yuan/ton, without significant fluctuations. Recently, the price of raw material sulfuric acid has been weak and stable, and the market for raw material methanol has fluctuated in a narrow range. The cost support is average, and downstream replenishment on demand is stable. The trading atmosphere in the formic acid market continues to be at the previous level.

Upstream product: Upstream sulfuric acid. According to the Commodity Market Analysis System of Business Society, the reference price for sulfuric acid was 188.00 on July 6th, a decrease of 2.08% compared to July 1st (192.00); Upstream methanol, according to the Commodity Market Analysis System of Business Society, the reference price for methanol on July 6th was 2155.83, a decrease of 1.11% compared to July 1st (2180.00).

Business Society formic acid analysts believe that the current cost impact is temporarily limited, and supply and demand support is still acceptable. It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention needs to be paid to market news guidance.