According to the Commodity Market Analysis System of Business Society, as of December 21st, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3150.00 yuan/ton, a decrease of 5.26% compared to Monday’s price.
This week, the domestic industrial grade 85% formic acid market has experienced a downward trend within a certain range, with mainstream quotes from enterprises ranging from 3000 to 3500 yuan/ton. Recently, the upstream sulfuric acid market has stabilized, while the upstream methanol market has risen narrowly, with increased cost support. Downstream inquiries and purchases are generally active, with transactions mainly based on demand. In addition, due to weather conditions in some regions, holders are offering discounts to ship, weakening the focus of negotiations in the formic acid market.
Business Society formic acid analysts believe that the current cost support is average, downstream buying is in high demand, and market transactions are still acceptable. It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention still needs to be paid to market news guidance.
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