As of June 28, the average quotation price of formic acid enterprises was 4033.33 yuan / ton, a decrease of 20.92% compared with the price at the beginning of the month, a decrease of 43.19% year-on-year in a three-month cycle, and an increase of 45.78% compared with the same period last year, according to the bulk list data of business society.

In June, the market price of domestic industrial grade 85% formic acid fell. In the first half of the month, the cost side support was acceptable, the downstream procurement was on demand, the market transactions were orderly, the market was stable and wait-and-see operation, and the high-end prices of some enterprises were reduced. In the second half of the month, the price of main raw material methanol gradually fell, the cost support gradually weakened, the supply side was mainly stable, there were many off-season downstream, the purchase of formic acid was not followed up enough, the demand side performance was poor, the shipment of enterprises was under pressure, the market inquiry and transaction were light, and the price of 85% formic acid continued to weaken.

Cost: upstream caustic soda, caustic soda price consolidation operation, downstream on-demand procurement, comprehensive estimation of the later stage or consolidation; The upstream liquid ammonia Market stabilized in Shandong on June 28; Upstream sulfuric acid, the domestic sulfuric acid market price was temporarily stable on June 28; For upstream methanol, according to the bulk list data of the business society, on June 27, the reference price of methanol was 2625.00, up 0.29% compared with June 1 (2617.50).

According to the formic acid analysts of business club, the current price of main raw material methanol is weak, the cost side support is declining, and the market atmosphere is light. It is expected that the formic acid market may be weak in the short term, and more attention should be paid to the market information guidance.