As of July 21, the average quotation price of formic acid enterprises was 3900.00 yuan / ton, unchanged from Monday’s price, down 15.22% from June 21, and 59.66% year-on-year in a three-month cycle, according to the bulk list data of business society.

The domestic market price of 85% industrial formic acid was stable this week. Recently, the market of upstream sulfuric acid, caustic soda and liquid ammonia has been weak, the price of main raw material methanol has risen, the cost side support is acceptable, the enterprise mainly ships normally, the downstream demand continues to be just in need of procurement, the market trend is balanced, the quotation of formic acid enterprises is on the market, and the negotiation focus of industrial grade 85% formic acid market is mainly stable.

In terms of cost: upstream caustic soda, the price of caustic soda was weak on July 20, and the downstream demand was general. It is comprehensively estimated that the market in the later stage or weak market is dominant; Upstream liquid ammonia, on the 21st, the liquid ammonia Market in Shandong was still weak. Today, the downward trend of the market stopped slightly and slowed down, and the market quotation was little changed from yesterday; Upstream sulfuric acid, the domestic sulfuric acid market price temporarily stabilized on July 20; Upstream methanol, according to the monitoring data of business agency, the average price of domestic methanol in East China port market was 2430 yuan / ton on July 20, up 3.46% from the previous trading day.

According to the formic acid analysts of business society, at present, there is a certain support on the cost side, and the supply and demand side is generally performing. It is expected that in the short term, the domestic industrial grade 85% formic acid market may be dominated by stability and wait-and-see operation.