According to the Commodity Market Analysis System of Shengyi Society, the price of formic acid has recently experienced a correction. As of May 6th, the average price of 85% industrial grade formic acid in China was 3033 yuan/ton, a decrease of 4.21% from 3166 yuan/ton at the end of April before the holiday, and a decrease of 7.73% from 3287 yuan/ton at the same time last year.
| Gamma-PGA (gamma polyglutamic acid) |
Supply side: The production line of Asde formic acid has recently resumed production, with increased power output and sufficient on-site supply.
On the demand side: The performance on the demand side is average, and there are currently no strong supporting products. The market for pharmaceuticals and pesticides is average, and seasonal demand support is limited. The demand recovery in the leather industry is not satisfactory, and it is expected to continue to be weak.
In terms of cost, the basic pattern of methanol raw material remains weak, showing a weak situation of increasing supply and decreasing demand. Weakened support for formic acid.
The formic acid data analyst from Shengyi Society believes that the main producers of formic acid are all producing normally, with an increase in supply and weak cost support. It is expected that formic acid will operate weakly, and specific market supply and demand news still needs to be monitored.
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