1、 Formic acid price trend

(Figure: p-value curve of formic acid product)

2、 Market analysis

According to the data of the business club’s block list, as of March 16, the average quotation price of formic acid enterprises was 2566.67 yuan / ton, down 2.52% compared with last Monday (March 8), down 3.14% compared with February 16, and up 11.59% year-on-year in a three-month cycle.

The formic acid market is weak recently. In terms of cost, the price of upstream raw materials has been lowered recently, and the support for formic acid has been weakened. On the demand side, the downstream industries maintain the just need to buy, the market trading atmosphere is general, the negotiation of profit making and shipping, and the market focus moves down.

According to the data monitoring of the business agency, the price of formic acid of some enterprises is summarized (for reference only, the spot price of the merchants is subject to the market, and the actual transaction price is mainly through negotiation.)

For upstream sulfuric acid, on March 16, Shandong’s sulfuric acid market was temporarily stable. The recent high price of upstream sulfur market was consolidated, and the cost support was good. However, the downstream purchasing enthusiasm was general, the supply of sulfuric acid was normal, and the ex factory price of sulfuric acid in the future fluctuated slightly. For upstream methanol, as of March 15, the ex factory price of methanol enterprises in Shandong decreased, and the mainstream negotiation price of methanol market in southern Shandong fell by 30-50 yuan / ton to 2 290-2310 yuan / ton.

According to the price monitoring of the business community, on March 15, 2021, in the list of commodity prices, there were 25 kinds of commodities in the chemical industry sector that rose month on month, among which 4 kinds of commodities increased by more than 5%, accounting for 4.3% of the number of commodities monitored in the sector; the top 3 commodities were hydrogen peroxide (10.36%), calcium carbide (8.85%) and chloroform (7.10%). There were 17 kinds of commodities with a month on month decrease, and 3 kinds of commodities with a decrease of more than 5%, accounting for 3.3% of the monitored commodities in this sector; the top 3 products with a decrease were n-butanol (industrial grade) (- 8.02%), DOP (- 7.73%) and isooctanol (- 5.97%). The average daily rise and fall was 0.32%.

3、 Future forecast

Business community formic acid analysts believe that the recent decline in raw material prices, cost support weakened, the downstream wait-and-see market, it is expected that in the short term, formic acid market will be weak and stable operation, more attention should be paid to raw material market price changes.