According to the Commodity Market Analysis System of the Business Society, as of April 24th, the average price quoted by domestic industrial grade 85% formic acid enterprises was 3875.00 yuan/ton, which is the same as last Thursday (April 20th).

Recently, the domestic industrial grade 85% formic acid market has been operating steadily. In the near future, the raw material sulfuric acid market is weak, and the raw material methanol market is strong. The change in cost has little impact. The downstream supply is mainly on demand before the festival. The market negotiation atmosphere is mild, the transaction is orderly, and the price center of formic acid market is stable.

Upstream product: Upstream sulfuric acid. According to the Commodity Market Analysis System of Business Society, the reference price for sulfuric acid on April 21 was 235.00, a decrease of 2.08% compared to April 1 (240.00); Upstream methanol, according to the Commodity Market Analysis System of Business Society, on April 21, the reference price for methanol was 2570.00, an increase of 0.33% compared to April 1 (2561.67).

Business Society formic acid analysts believe that at present, raw material prices are fluctuating, and the cost side impact is limited. Downstream goods are prepared in an orderly manner according to demand before holidays, and the market atmosphere is still acceptable. It is expected that the domestic industrial grade 85% formic acid market may operate at a high level in the short term, and more attention needs to be paid to market news guidance.