According to the bulk list data of business cooperatives, as of September 18, the average price quoted by formic acid enterprises was 3500.00 yuan/ton, which was the same as the price on last Wednesday (September 14), 7.08% lower than the price on August 18, and 25.53% lower than the price on a three-month cycle.

Recently (9.14-9.18), the market price of domestic industrial grade 85% formic acid has been stable. In the near future, the prices of upstream raw materials such as liquid ammonia and methanol are relatively strong, caustic soda is relatively weak, sulfuric acid is temporarily stable, and the cost impact is not significant. The enterprise’s shipment is acceptable. The downstream pharmaceutical, rubber, leather, pesticide and other industries purchase goods on a single basis according to market demand. The overall market price is mainly stable, without significant fluctuations.

In terms of cost: upstream caustic soda. According to the monitoring data of the business community, the price of caustic soda this week (9.12-9.16) was weak. At the beginning of the week, the average market price in Shandong was about 1052 yuan/ton, and at the weekend, the average market price in Shandong was 1048 yuan/ton, down 0.38%; On September 16, the reference price of upstream liquid ammonia was 4306.67, up 11.38% compared with September 1 (3866.67); For upstream sulfuric acid, the domestic sulfuric acid market price was temporarily stable on September 16; Upstream methanol, according to the monitoring data of the business community, the domestic methanol in East China port was 2770 yuan/ton on September 16, up 1.79% from the previous trading day, 12.69% month on month, and 9.40% year on year.

According to the formic acid analysts of the business community, the current cost impact is limited. The downstream purchase is on demand, and the market transaction is fair. It is estimated that in the short term, the domestic industrial grade 85% formic acid market will be mainly stable, and more attention should be paid to the downstream demand for pre holiday stock.