Chinese Formic acid market was stable and rose last week (3.1-3.5)

Till March 5, the average quotation price of Formic Acid enterprises was 2633.33 CNY / ton, up 1.28% compared with the beginning of the week, down 0.63% compared with February 5, and up 35.04% compared with the same period last year.

Last week, Formic Acid market was mainly stable, some enterprises' quotations were raised, manufacturers orders and shipment were OK, and downstream on-demand procurement was the main.  The spot price of the merchants depends on the market. The actual transaction price is mainly through negotiation.

In the near future, the price of raw materials is relatively strong, the cost support has been raised, and the downstream is mostly purchased on demand. It is expected that in the short term, the market situation of Formic Acid may be stable, and more attention should be paid to changing market situation.