According to the data of the business club’s block list, as of June 30, the average quotation price of formic acid enterprises was 2766.67 yuan / ton, which was the same as that on June 1, with a year-on-year decrease of 7.26% in the three-month cycle. In July, the formic acid market rose. As of July 6, the average price quoted by enterprises was 3000 yuan / ton, up 1.12% compared with the previous trading day.

In June, the domestic formic acid market remained stable as a whole. In the first half of June, the price quoted by the shippers was stable at a high level, and the downstream just needed to buy, so the market trading atmosphere was acceptable. In late June, the trend of raw materials was strong, the shipment of enterprises was stable, and the market transaction was orderly. Under the stable quotation of main factories, the domestic formic acid market continued to be stable in the whole month. In July, the market performance was fair, and the market rose slightly.

As of July 5, the reference price of upstream caustic soda was 527.50, up 1.93% compared with July 1 (517.50); On July 5, the domestic liquid ammonia market was stable, and the price of liquid ammonia in Shandong did not change much. Today, the amount of ammonia in this area is moderate, and the enterprises are shipping normally. At present, the inventory is normal, and the quotations of Shandong large factories are generally stable; The upstream sulfuric acid market rose on July 5 in Shandong Province, and the upstream sulfur market rose slightly in the near future. Some sulfuric acid manufacturers were under started, and the load was reduced. The downstream bromine market gradually rose, and the downstream purchasing enthusiasm was good; The reference price of upstream methanol was 2555.00 on July 5, which was the same as that on July 1.

Business community formic acid analysts believe that at present, the raw material price is relatively strong, the cost support is strong, and the market transaction is active. It is expected that the formic acid market will be mainly strong in the short term, and more attention should be paid to the change of raw material price.