According to the data of the block list of business cooperatives, as of September 27, the average price quoted by formic acid enterprises was 3500.00 yuan/ton, down 4.55% compared with the price at the beginning of the month, 16.67% year-on-year in a three-month cycle, and 55.70% year-on-year.

In September, after the domestic industrial grade 85% formic acid market rose slightly at the beginning of the month, the enterprise quotation was mainly stable, and the high-end price of some enterprises was loose. In the first ten days of this year, the price of upstream raw materials rose and fell with each other, and the cost support was average. Mainstream production enterprises started at a low level. The main downstream formate market followed up and improved, and the improvement in supply and demand supported a small rise in the price of formic acid. In the middle of the year, the impact of cost is small, the enterprise’s shipment is fair, and the demand of Jinjiuyinshi is less than expected. The downstream pharmaceutical, rubber, leather, pesticide and other industries purchase on demand. The overall market price is stable, and some enterprises’ high-end prices are loose. In the last ten days, the cost has little impact. Downstream goods are prepared in an orderly manner as required. The market has no obvious fluctuations. The focus of negotiation is stable.

In terms of cost: upstream caustic soda, the price of caustic soda on the 27th was supported by a positive trend, while downstream demand was good due to the preparation of goods before the festival, and it was expected that the trend would be better in the later period; Upstream liquid ammonia, on the 26th, the market of liquid ammonia in Shandong was light and stable, and the market was deadlocked; For upstream sulfuric acid, the domestic sulfuric acid market price was temporarily stable on September 27; On September 26, the reference price of upstream methanol was 2740.00, an increase of 8.39% compared with September 1 (2528.00).

The formic acid analysts of the business community believe that the current cost side has some support. The supply and demand side mainly purchases on demand, and the market stock is orderly. It is expected that in the short term, the domestic industrial grade 85% formic acid market will be mainly stable, and more attention should be paid to the market news guidance.