According to the data of business agency, on August 24, the weekly average price of domestic industrial grade formic acid was 1706.67 yuan / ton. As of August 28, the weekly average price of domestic industrial grade formic acid was 1733.33 yuan / ton. This week, the formic acid market rose slightly, and some manufacturers’ quotations hit the bottom and rebounded.

2、 Market analysis

This week, the domestic industrial grade formic acid market after last week’s stable operation, this week’s price gradually increased, the quotation continued to be stable in January. This week, manufacturers and dealers stand by and wait and see, and some enterprises make adjustments for market changes. At present, the quotation of enterprises is generally around 1700 yuan / ton, and the fluctuation of individual dealers is not big. At present, the mainstream ex factory price of formic acid is about 1400 yuan / ton, and the quotation of mainstream dealers is 1900-2600 yuan / ton. Xiangbo Chemical Co., Ltd. quoted price of RMB 1350 / Zhangcheng Chemical Co., Ltd.

The liquid ammonia Market in the upstream of formic acid has a steady rise, and the overall trading atmosphere is fair. The recent rise in urea price has a good boost to the liquid ammonia Market. In addition, some enterprises have increased urea production. Domestic caustic soda fluctuates in a narrow range, and the enterprise’s shipment is general. The demand of leather and pesticide industry of downstream products is not prosperous.

3、 Future forecast

According to the formic acid data analyst of the business agency, the current domestic industrial grade 85% formic acid market will rise slightly, and the tight market supply will give a good boost to the formic acid market. The downstream demand is not strong, and the formic acid market may adjust steadily in the short term.