Insufficient cost support, Chinese Formic Acid price down

Till April 14, the average price of Formic Acid producers was 2633.33 CNY / ton, down 7.32% compared with the price of last Wednesday (April 7), 3.80% lower than that on March 13, and 4.4% lower than that on January 1. Recently, the Formic Acid market is in weak operation, and the price of Formic Acid is affected by the weakness of raw materials, and the market investment atmosphere is general, and the downstream purchase is rigid demand.

Recently, raw material prices are weak, and the cost side is not enough to support them, which has a certain influence on the market mentality. Downstream purchasing activities is based on demand, and the market is mainly wait-and-see. It is expected that in the short term, the formic acid market may be wait-and-see, and more attention needs to be paid to the trend of raw material prices.