According to the Commodity Market Analysis System of Shengyishe, as of January 8th, the average price quoted by domestic industrial grade 85% formic acid enterprises is 3150.00 yuan/ton, which is unchanged from the beginning of the month.

Since January, the domestic industrial grade 85% formic acid market has remained stable, and enterprises can adjust flexibly according to their own situation. The mainstream quotation reference is between 3100-3500 yuan/ton. Recently, the upstream sulfuric acid market prices have declined, with narrow fluctuations in the upstream methanol market, weak cost support, and decent demand performance. Downstream enterprises mainly accept orders for immediate needs, while the focus of negotiations in the formic acid market is on stability.

Business Society formic acid analysts believe that the current cost support is average, the supply side is temporarily stable, and downstream restocking is needed. It is expected that the domestic industrial grade 85% formic acid market will stabilize and consolidate in the short term, and more attention still needs to be paid to market news guidance.