According to the Commodity Market Analysis System of the Business Society, as of October 18th, the average price quoted by domestic industrial grade 85% formic acid enterprises is 3375.00 yuan/ton, which is unchanged compared to last Friday (October 13th).

Recently, the domestic industrial grade 85% formic acid market has been operating steadily. Recently, the raw material sulfuric acid market has been operating weakly and steadily, with a narrow range of fluctuations in raw material methanol. The cost support is limited, and downstream procurement is just needed. The market trading atmosphere is still good, and the holders follow the market to ship. The enterprise quotation range is between 3200-3500 yuan/ton, and the focus of negotiations in the formic acid market is mainly stable.

Business Society formic acid analysts believe that the current cost impact is not significant, and the market trading is orderly. It is expected that the domestic industrial grade 85% formic acid market will remain stable in the short term, and more attention still needs to be paid to market news guidance.