According to the Commodity Market Analysis System of Shengyishe, as of January 29th, the average price quoted by formic acid companies was 3150.00 yuan/ton, which is the same as the price on January 1st.

The domestic industrial grade 85% formic acid market remained stable in January. The price of raw material sulfuric acid steadily declined during the month, while the price of raw material methanol fluctuated and rose. The price of raw materials fluctuated, and its impact on the formic acid market was limited. In the middle of the month, the main manufacturers mainly produce normally, and downstream pre holiday stocking is followed up as needed. Market trading is stable and orderly, and distributors actively ship and follow the market. The mainstream quotation range is stable, and the market price of industrial grade 85% formic acid is mostly around 3000-3500 yuan/ton.

Business Society formic acid analysts believe that the current cost support is still acceptable, and market transactions are in high demand. It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention should be paid to market news guidance.