According to the bulk list data of business society, as of March 23, the average quotation price of formic acid enterprises was 6200.00 yuan / ton, up 25.68% from last Friday, 34.30% from February 23, and 44.19% year-on-year in a three-month cycle.

Recently, the domestic industrial grade 85% formic acid market has been strong and rising. Cost: the price of methanol, the main raw material, has risen, and the cost support has strengthened. Supply side: temporary maintenance of a large enterprise, shrinking market supply. The demand for formic acid in the downstream market increased, and the demand for formic acid in the downstream market increased.

In terms of cost: upstream caustic soda, the price of caustic soda improved on March 22, and the mainstream market price in Shandong is about 930-1080 yuan / ton; Upstream liquid ammonia, on March 23, Shandong liquid ammonia market was running at a high level, with the rise mainly slowing down; Upstream sulfuric acid, the domestic sulfuric acid market rose on March 23; For upstream methanol, the ex factory quotation of methanol enterprises in Shandong increased on March 23.

Formic acid analysts of business society believe that in the near future, the price of raw materials is relatively strong, the cost support is higher, the supply side is reduced, the demand side is positive, and the logistics and transportation in some regions are limited. It is expected that the formic acid market may be strong in the short term.