Chinese Formic Acid market is under stable operation

Till June 22, the average quotation price of formic acid enterprises was 2766.67 CNY / ton, which was the same as that of the previous trading day, the same as that of the beginning of the month, and decreased by 0.60% compared with that of May 22.

Since June, Formic Acid market has been running at a high level. On the 22nd, the market trend remained stable. At present, the trend of raw materials is relatively strong, forming a good cost support for the market. The downstream is mainly purchased on demand, the cargo delivery is stable, and the market transaction is orderly.

At present, the cost support is strong, the downstream purchase is on demand, and the market atmosphere is acceptable. It is expected that the Formic Acid market will be stronger in the short term, and more attention should be paid to the change of raw material price.