According to the bulk list data of Business News Agency, as of March 28, the average price quoted by formic acid companies was 3875.00 yuan/ton, an increase of 8.39% compared to the price on March 1.

In March, the market price of industrial grade 85% formic acid in China was strong and operating. In the first ten days, there was some support for the cost side, with the formic acid operating rate of around 75%, and the supply side recovering. However, the industry was collectively optimistic about the future, with prices rising slightly, and the market atmosphere was active. In the middle of the year, there is little impact on the cost side, with the market mainly relying on inventory digestion, while downstream customers mainly purchase on demand, with the market being stable. In the second half of the year, the cost support was acceptable, the operating rate decreased compared to the previous period, and the market supply contracted, supporting this price increase. The downstream follow-up was acceptable, and the market transactions were orderly.

Cost: For upstream sulfuric acid, on March 27, the reference price for sulfuric acid was 256.67, up 1.32% compared to March 1 (253.33); For upstream methanol, on February 24th and March 27th, the reference price of methanol was 2581.67, a decrease of 5.63% compared to March 1st (2735.83).

According to the formic acid analysts of the Business Society, the current cost side support is acceptable, the supply side support still exists, and the demand side is stable. It is expected that in the short term, the domestic industrial grade 85% formic acid market may mainly operate at a high level, and more attention needs to be paid to market news guidance.