Formic Acid market remained stable at high level in June and rose slightly in early July

Till June 30, the average quotation price of Formic Acid manufacturers was 2766.67 CNY / ton, which was the same as that on June 1, with a year-on-year decrease of 7.26% over the three-month period. In July, the Formic Acid market rose. As of July 6, the average price quoted by enterprises was 3000 CNY / ton, up 1.12% compared with the previous trading day.

At present, the raw material price is relatively strong, the cost support is strong, and the market transaction is active. It is expected that the Formic Acid market will be strong in the short term, and more attention should be paid to the change of raw material price.