According to the bulk list data of business society, as of June 22, the average quotation price of formic acid enterprises was 4533.33 yuan / ton, down 3.55% compared with last Wednesday (June 15), 29.17% compared with May 22, and 17.07% year-on-year in a three-month cycle.

Recently, the market price of domestic industrial grade 85% formic acid fell. In the recent period, the price of upstream products has been mainly adjusted and operated, the price of main raw material methanol has fallen, the cost side is generally supported, the supply side is mainly stable, and the downstream is mostly off-season. The enthusiasm for inquiry and procurement is not high, the demand side performance is not good, the enterprise is under pressure to ship, and the wait-and-see operation is carried out after the price of 85% formic acid weakens.

In terms of cost: upstream caustic soda, the price of caustic soda shall be adjusted and operated, downstream shall be purchased on demand, and it is comprehensively estimated that it will be mainly adjusted in the later stage; On June 21, the reference price of upstream liquid ammonia was 4873.33, a decrease of 7.88% compared with that on June 1 (5290.00); Upstream sulfuric acid, the domestic sulfuric acid market price was temporarily stable on June 21; As for upstream methanol, according to the monitoring data of shanghaishe, on June 21, the reference price of methanol was 2705.00, up 3.34% compared with that on June 1 (2617.50). On June 21, the ex factory quotation of methanol enterprises in Shandong was lowered.

According to the formic acid analysts of business agency, the main raw material methanol is weak, the cost support is limited, the supply side has not changed, and the demand side is light. It is expected that in the short term, the domestic industrial grade 85% formic acid market may be under pressure.