Formic acid market trends in recent days

1. On April 12, 2024, the formic acid market was stable, with limited impact on costs. The procurement demand in the downstream industry continued to be rigid, and market transactions were orderly.

 

2. In December 2023, my country's formic acid import volume was 763 kilograms, a year-on-year increase of 373.91%.

 

3. On May 9, 2024, the formic acid market was stable and fluctuating, with acceptable cost support, average downstream follow-up, and some companies offering profits for shipments.

 

4. Recently, the domestic industrial-grade 85% formic acid market has been on a downward trend. The main raw material methanol market first rose and then fell, with strong cost support. The supply and demand situation has created a certain negative impact on the market. The supply of goods is sufficient, but the follow-up on the demand side is limited. Downstream buyers just need to buy at low prices.

 

5. In April, the domestic industrial grade 85% formic acid market operated stably and slightly weakly. According to the commodity market analysis system of SunSirs, as of April 26, the prices quoted by formic acid companies have declined compared with the prices on April 1.

 

6. After the holiday, the formic acid market is mainly stable, and some companies have adjusted their prices. The market price of methanol, the main raw material, fluctuated and rose within a narrow range. Cost support was acceptable, but downstream buying sentiment was mediocre.

 

7. The formic acid market was mainly stable on May 6. After the holiday, the market will wait and see and operate. The cost support is average, and the downstream will follow up as needed.

 

 

Based on the above information, it can be seen that the formic acid market fluctuates at different points in time, and factors such as market supply and demand, cost support, and downstream demand all have an impact on prices.