According to the bulk list data of business society, as of April 21, the average quotation price of formic acid enterprises was 9666.67 yuan / ton, which was flat compared with Monday’s price, increased by 83.54% compared with March 21, and increased by 113.24% year-on-year in a three-month cycle.

This week, the domestic industrial grade 85% formic acid market was stable at a high level. Recently, the price of methanol, the main raw material, has fluctuated upward, the price of sulfuric acid has fallen, the cost side has a certain support, and the supply side is tight. The main downstream formate is mainly purchased on demand. The demand of the downstream pesticide and pharmaceutical industry is good, the export market is hot, the market inquiry atmosphere is OK, and the strong supply and demand supports the high and strong operation of the formic acid market.

In terms of cost, the reference price of upstream caustic soda was 1280.00 on April 20, up 13.88% compared with 1124.00 on April 1. The market trading atmosphere was good, and the enthusiasm of downstream receiving was OK; For upstream liquid ammonia, on April 20, the reference price of liquid ammonia was 4986.67, an increase of 1.01% compared with April 1 (4936.67); For upstream sulfuric acid, the market price of domestic sulfuric acid fell slightly on April 20, which was 30 yuan / ton lower than that on April 18, a decrease of 2.49%, and a year-on-year increase of 107.35% over the same period last year; Upstream methanol, according to the monitoring data of business society, the average price of domestic methanol production enterprises was 2837 yuan / ton on April 20, up 0.98% from the previous trading day and 16.29% year-on-year..

The formic acid analyst of business society believes that at present, the main raw material methanol is subject to shock consolidation, and the export market is good. In addition, the downstream goods preparation demand before May Day festival has a stable demand side support. Under the support of supply and demand, it is expected that the formic acid market may operate at a high level in the short term.