According to the Commodity Market Analysis System of Shengyishe, as of December 7th, the average quoted price of 85% industrial grade formic acid enterprises in China was 3325.00 yuan/ton, which remained unchanged compared to the beginning of the month and increased by 10.83% compared to the same period last year.
Since December, there has been no significant fluctuation in the domestic industrial grade 85% formic acid market as a whole, and enterprise quotations have remained stable in the range of 3100-3500 yuan/ton. In recent times, the upstream sulfuric acid market prices have fallen first and then stabilized, while the upstream methanol market has narrowed and stabilized. The cost support is average, and downstream inquiries and purchases are mainly in demand. The market trading performance is stable. According to the Commodity Market Analysis System of Business Society, on December 7th, industrial grade 90% formic acid enterprises quoted around 3700-4000 yuan/ton, and on December 7th, industrial grade 94% formic acid enterprises quoted around 4200-4500 yuan/ton.
Business Society formic acid analysts believe that the current cost impact is not significant, and enterprise quotations are mainly stable. Market transactions are in high demand, 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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