As of July 27, the average quotation price of formic acid enterprises was 3900.00 yuan / ton, down 3.31% compared with the price at the beginning of the month, down 59.66% year-on-year in a three-month cycle, and up 28.57% compared with the same period last year, according to the bulk list data of business society.

In July, the market price of domestic industrial grade 85% formic acid fell slightly. In the first half of the month, the cost side support was limited, and low-cost sources of goods appeared frequently in the market. After the price fell to about 3500 yuan / ton, it hit the bottom and rebounded. The market transaction was dominated by rigid demand, and the price rose slightly and operated smoothly. In the second half of the month, the cost side support was ok, the enterprise mainly shipped normally, the downstream maintained rigid demand procurement, the inquiry atmosphere was general, the market trend was balanced, the transaction was mild and orderly, and the focus of the market negotiation of industrial grade 85% formic acid was mainly stable.

In terms of cost: upstream caustic soda, the caustic soda enterprises flexibly adjusted their quotation on the 27th, but they mainly took a wait-and-see attitude, and comprehensively expected to maintain the consolidation trend in the later period; Upstream liquid ammonia, on the 27th, the liquid ammonia Market in Shandong fell, and some traders’ offers fell, with a range of around 100 yuan; Upstream sulfuric acid, the domestic sulfuric acid market price temporarily stabilized on July 27; Upstream methanol, according to the bulk list data of business society, on July 26, the reference price of methanol (period) was 2476.25, a decrease of 1.74% compared with July 1 (2520.00).

According to the formic acid analysts of business society, the current cost impact is limited, and the downstream is mostly on-demand procurement, with average on-site trading. It is expected that in the short term, the domestic industrial grade 85% formic acid market may be stable.