According to the bulk list data of business society, as of November 22, the average quotation price of formic acid enterprises was 5000 yuan / ton, down 33.33% compared with the price on Monday (November 15), down 37.89% compared with the price on October 22, and up 47.06% year-on-year in a three-month cycle.

This week (11.15-11.22), the market price of domestic industrial grade 85% formic acid fell sharply. Recently, the price trend of raw materials methanol, caustic soda, liquid ammonia and sulfuric acid has declined, the cost support for formic acid has been significantly weakened, the price of formic acid has fallen sharply, the focus of transaction has declined, and downstream enterprises mainly purchase on demand.

In terms of cost: for upstream caustic soda, the price of caustic soda decreased this week (11.15-11.21). At the beginning of the week, the market price in Shandong was 1262.5 yuan / ton, and the average market price in Shandong at the weekend was 940 yuan / ton, down 11.53%; For upstream liquid ammonia, on November 19, the market situation of Shandong liquid ammonia was weak, and the price continued to decline, with a range of 100 yuan / ton. The quotations of most manufacturers were adjusted downward, with a range of 100 yuan; Upstream sulfuric acid, the domestic sulfuric acid market fell on November 19, the upstream sulfur market fell slightly recently, the cost support was insufficient, some sulfuric acid manufacturers did not start enough, the load was reduced, the downstream formic acid and bromine market fell slightly, and the downstream procurement enthusiasm was weakened; For upstream methanol, on November 19, the reference price of methanol was 2748.33, a decrease of 9.59% compared with November 15 (3040) and 12.94% compared with November 1 (3156.67).

Formic acid analysts of business society believe that the recent decline in raw material prices has formed a negative pressure on formic acid, the cost side has dragged down the lack of market confidence, and the support of supply and demand side is OK. It is expected that the formic acid market will be dominated by weak consolidation in the short term.