Formic acid market rose in May. According to the data of the business club’s block list, as of May 31, the average quotation price of formic acid enterprises was 2733.33 yuan / ton, up 12.33% compared with the price at the beginning of the month (2433.33 yuan / ton), and up 5.13% year on year in a three-month cycle.

In May, the domestic formic acid market showed a strong upward trend, then slightly fell back and stabilized, showing an overall upward trend“ After the May Day holiday, there was a demand for replenishment in the downstream, the market trading atmosphere was good, and the offer of goods holders rose. With the rise of raw material prices, rising costs and export demand, the overall offer and transaction focus of formic acid market moved up. After the formic acid prices of some enterprises decreased slightly in the late ten days, the market was stable at a high level, and the downstream was mainly purchased on demand.

According to the data monitoring of the business agency, the price of formic acid of some enterprises in the near future is summarized (for reference only, the spot prices of the merchants follow the market, and the actual transaction prices of different brands, specifications and products are mainly negotiated.)

As of May 31, the reference price of upstream caustic soda was 500.00, up 9.29% compared with May 1 (457.50); On June 1, the market of liquid ammonia in Shandong rose; Upstream sulfuric acid, May 31, Shandong sulfuric acid market fell; The reference price of upstream methanol on May 31 was 2672.50, up 4.39% compared with May 1 (2560.00).

Business community formic acid analysts believe that in June, the price of formic acid is mainly stable, the market is orderly, and the downstream is purchased on demand. It is expected that the formic acid market will mainly run at a high level in the short term, and more attention should be paid to the change of raw material price.