According to the bulk list data of business society, as of April 27, the average quotation price of formic acid enterprises was 9666.67 yuan / ton, up 36.15% compared with the price at the beginning of the month, 113.24% year-on-year in a three-month cycle and 297.26% compared with the same period last year.

In April, the market price of domestic industrial grade 85% formic acid rose sharply. In the first half of the month, the price of the main raw material methanol weakened, but the cost support remained. A large factory on the supply side was overhauled, the market supply contracted, the export market orders on the demand side increased, and the domestic main downstream just needed to follow up. The market inquiry and procurement atmosphere was positive, which had a certain impact on the transportation in some regions, and the price of formic acid rose sharply. In the second half of the month, the impact of changes in the cost side was small, the market supply was tight, the export market support was good, the main downstream formate was mainly purchased on demand, the demand of the downstream pesticide and pharmaceutical industry was good, the market trading was orderly, the support of supply and demand was stable, and the high level of formic acid market operated firmly.

In terms of cost, the reference price of upstream caustic soda was 1274.00 on April 26, an increase of 13.35% compared with April 1 (1124.00); Upstream liquid ammonia, the liquid ammonia Market in Shandong rose slightly on April 27; Upstream sulfuric acid, the domestic sulfuric acid market was temporarily stable on April 27; Upstream methanol, according to the bulk list data of business society, the reference price of methanol was 2805.00 on April 26, down 8.63% compared with April 1 (3070.00).

Formic acid analysts of business society believe that at present, the main raw material methanol market is reorganized and operated, and the cost impact is general. The downstream needs replenishment just before the festival. The market atmosphere is mild and orderly. It is expected that the formic acid market will mainly operate at a high level in the short term, and more attention should be paid to the guidance of market news.