According to the Commodity Market Analysis System of Shengyi Society, the domestic formic acid market has been stable recently. As of June 3, the benchmark price of 85% formic acid for industrial grade in China was 2450 yuan/ton, a decrease of 50 yuan/ton from before the holiday.

Demand side: Downstream on-demand procurement, overall demand is relatively stable, merchant spot prices follow the market, and actual transactions are mainly stable.
In terms of cost: Upstream soda ash prices fluctuate, while soda ash prices in North China remain stable. The mainstream market price for light soda ash is around 1350-1500 yuan/ton; The mainstream market price for heavy soda ash is around 1450-1550 yuan/ton. Supply side equipment maintenance, low capacity utilization, weak downstream market conditions, urgent need to follow up on market entry, and weak market trading atmosphere.
Weak operation of raw material methanol: From May 1st to 30th (as of 3:00 pm), the average price of methanol in East China ports in the domestic market fell from 2440 yuan/ton to 2245 yuan/ton, with a price drop of 7.99% during the period and a maximum amplitude of 10.96%. The price fell by 19.82% year-on-year.
The formic acid data analyst of Shengyi Society believes that due to weak demand and supply, formic acid has no immediate action force and is expected to maintain a weak operation in the short term.