Formic Acid market rose in May

Formic acid market rose in May.  Till May 31, the average quotation price of Formic Acid enterprises was 2733.33 CNY / ton, up 12.33% compared with the price at the beginning of the month (2433.33 CNY / ton), and up 5.13% year on year in a three-month cycle.

In May, the domestic Formic Acid market showed a strong upward trend, then slightly fell back and stabilized, showing an overall upward trend“ After the Labour Day holiday, there was a demand for replenishment in the downstream, the market trading atmosphere was good, and the offer of goods holders rose. With the rise of raw material prices, rising costs and export demand, the overall offer and transaction focus of Formylic Acid market moved up. After the Formic Acid prices of some manufacturers decreased slightly in the late ten days, the market was stable at a high level, and the downstream was mainly purchased on demand.

After entering June, the price of Formic Acid is mainly stable, the market is orderly, and the downstream is purchased on demand. It is expected that the Formic Acid market will mainly run at a high level in the short term, and more attention should be paid to the change of raw material price.