According to the data of the trade agency’s bulk list, as of August 17, the average price of formic acid enterprises was 3766.67 yuan / ton, which was the same as the price on last Wednesday (August 10), down 3.42% compared with the price on July 17, and down 37.91% year-on-year in a three-month cycle.

In the near future (August 10-August 17), the market price of 85% industrial grade formic acid in China has been running steadily. Recently, the upstream caustic soda, liquid ammonia weak finishing, and sulfuric acid prices have fallen. The market price of the main raw material methanol is low, the cost side supports the formic acid market generally, the downstream demand continues to be just needed to purchase, the enterprise’s normal shipment is the main factor, the market transaction is stable, and the negotiation focus of the industrial grade 85% formic acid market is stable.

Cost: upstream caustic soda, the price of caustic soda was adjusted and put into operation on August 16. The overall shipment of the market is relatively stable, the operating load of downstream alumina enterprises is not high, the market wait-and-see mood is strong, and the demand continues to be weak; Upstream liquid ammonia: on August 16, the liquid ammonia Market in Shandong remained stable, the market performance was still weak, and some dealers sold the products at a profit; Upstream sulfuric acid: on August 16, the domestic sulfuric acid market price was temporarily stable; For the upstream methanol, according to the monitoring data of the business association, on August 16, the reference price of methanol was 2458.00, a decrease of 3.8% compared with August 1 (2555.00).

According to the formic acid analyst of the business association, the current cost support is limited. The quotation of formic acid enterprises follows the market, and the downstream inquiry and purchase are based on demand. The market negotiation atmosphere is calm. It is expected that in the short term, 85% of the domestic industrial grade formic acid market will be stable, and more attention should be paid to the changes in raw material prices.