According to the bulk list data of business society, as of March 18, the average quotation price of formic acid enterprises was 4933.33 yuan / ton, which was flat compared with Monday’s price, increased by 6.86% compared with February 18, and increased by 16.54% year-on-year in a three-month cycle.

This week, the domestic industrial grade 85% formic acid market was stable. Recently, the main raw material methanol market has fallen, the cost support has weakened, the upstream caustic soda consolidation operation, the price of liquid ammonia and sulfuric acid have increased, the supply and demand support is OK, the logistics and transportation in some regions are limited, and the focus of market negotiation is stable.

In terms of cost: upstream caustic soda, the price of caustic soda was adjusted and operated on March 17, and the mainstream market price in Shandong was about 900-1050 yuan / ton; Upstream liquid ammonia, on March 17, Shandong liquid ammonia market continued to rise, and today’s price was about 100 yuan higher than yesterday; Upstream sulfuric acid, the domestic sulfuric acid market rose on March 17; Upstream methanol, according to the monitoring data of business society, from March 11 to 18, the average price of domestic methanol production enterprises fell from 3145 yuan / ton to 2787 yuan / ton. During the cycle, the price fell by 11.37%, the price rose by 7.83% month on month and 18.49% year-on-year.

Formic acid analysts of business society believe that the price of methanol, the main raw material, has fallen recently, the cost support is weak, the downstream procurement is mainly on demand, and the logistics and transportation are limited in some regions. It is expected that the formic acid market may be stable in the short term.