As of May 29, the average price of formic acid enterprises was 3875.00 yuan/ton, which was flat compared with the price on May 1.

The formic acid market was stable in May. In the early ten days, the upstream sulfuric acid and methanol prices are weak, the cost side has little impact, the normal shipment of enterprises is dominated, the downstream inquiry procurement continues to demand, and the market price center of formic acid is stable. In the latter half of the cost side support is weak, the downstream pharmaceutical, rubber, leather, pesticides and other industries buy on demand, the enthusiasm of inquiry procurement is still good, the overall market trading has no significant change, merchants follow the market shipment, formic acid prices continue to be high and stable.

Cost: upstream sulfuric acid, on May 26, the reference price of sulfuric acid was 188.00, compared with May 1 (218.33), down 13.89%; Upstream methanol, May 26, methanol reference price was 2135.83, compared with May 1 (2423.33), down 11.86%.

At present, the cost side support is general, the supply and demand side support is ok, the market trading is orderly, it is expected that in the short term, the domestic industrial-grade 85% formic acid market or will run smoothly at a high level, and more attention should be paid to the market news guidance.