According to the data of business agency, the weekly average price of industrial grade formic acid in China this week is 2066.67 yuan / ton. The overall formic acid market is stable this week, with little market price fluctuation.
2、 Market analysis
Product: the domestic industrial grade 85% formic acid market is relatively stable this week, and the overall price remains at the early stage. At present, there is no adjustment between the current price and last week. Device aspect: the manufacturer’s device basically operates normally. In terms of price: this week, the company’s quotation is basically around 2066.67 yuan / ton, the main factory price of formic acid is around 1800 yuan / ton, and the main dealers’ quotation is around 2260 yuan / ton. As of Friday (May 15), Zhangzhou San’an Chemical Co., Ltd. has offered 1600 yuan / ton; Zibo Pulis Chemical Co., Ltd. 1800 yuan / ton; Jinzhou jinhongda Chemical Co., Ltd. 2100 yuan / ton; Hangzhou Fengchang Trade Co., Ltd. has offered 2300 yuan / ton of 85% formic acid net water.
Industry chain: the market of liquid ammonia, the upstream product of formic acid, has been running steadily, with local prices rising slightly. Recently, the urea market as a whole has remained stable after a small reduction this week, and the overall trend of liquid ammonia has been stable since the beginning of the month. Domestic caustic soda fluctuates little overall. The upstream products generally support the formic acid market, while the downstream products, leather and pesticide industry, have a general demand.
3、 Future forecast
According to the formic acid data division of business association, at present, the domestic industrial grade 85% formic acid market is relatively stable, enterprises generally maintain stability and wait-and-see, the downstream demand is general, the market favorable factors are insufficient, and the domestic industrial grade 85% formic acid market is expected to maintain stability in the short term.