According to the Commodity Market Analysis System of Shengyi Society, the domestic formic acid market has been operating weakly and steadily recently. As of July 14th, the benchmark price of 85% industrial grade formic acid in China was 2400 yuan/ton, unchanged from the beginning of the month and at a low level for the year.

The upstream caustic soda prices are in a strong operating trend, and the recent demand is still acceptable, supporting the firm operation of caustic soda prices. The comprehensive supply-demand game predicts that caustic soda will maintain a strong operating trend in the later stage,
The demand for upstream liquid ammonia in the market has been relatively weak recently, with agricultural and industrial demand mainly following suit. There will be little change in future supply, and the equipment will be on and off, showing a slow increasing trend overall.
The downstream leather and pesticide industries have a relatively stable demand for formic acid, and the sales situation is average.
In summary, there is no clear positive signal for the upstream and demand of formic acid, and it is expected that the formic acid market will operate weakly. Specific market changes still need to be monitored.