According to the Commodity Market Analysis System of Shengyi Society, there has been a slight rebound in the domestic formic acid market after the holiday. As of October 14th, the price of 85% formic acid in China was 2775 yuan/ton, an increase of 3.74% from 2675 yuan/ton before the holiday.
The market situation of raw material methanol is fluctuating at a high level, and the price structure is supported
From October 8th to 12th (as of 15:00), the average price of methanol in East China ports in the domestic market fell from 2620 yuan/ton to 2551 yuan/ton, with a price drop of 2.64% during the period, a month on month increase of 6.06%, and a year-on-year increase of 2.89%. Before and after the National Day holiday, the domestic methanol market showed a significant increase followed by a decline, with relatively limited demand changes and an increase in supply. During the holiday period, the speed of truck delivery was limited, and after the holiday, methanol inventories in mainland China and ports showed accumulation. The price of methanol quickly fell back after reaching a high level.
The formic acid analyst from Shengyi Society believes that the current price of methanol, the main raw material, is running steadily, with strong cost support and strong supply and demand support. It is expected that the formic acid market will mainly fluctuate in the short term, and more attention should be paid to market news guidance.
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