1、 Price trend of formic acid

(Figure: P value curve of formic acid products)

2、 Market analysis

Recently, the domestic industrial grade 85% formic acid market has been running steadily. As of October 22, the average price quoted by formic acid enterprises was 2133.33 yuan / ton, up 3.23% compared with last Thursday (October 15) and 25% higher than that of August 22, according to the large list data of business agency. The manufacturers and distributors’ devices are in normal operation. The downstream potassium formate and calcium formate industry demand is stable. The formic acid procurement is steadily followed up. The pharmaceutical industry mainly receives orders periodically. The market transaction is fair, and the formic acid market is stable and rising.

According to the data monitoring of business agencies, some enterprises’ formic acid prices are summarized as follows: the quotation of industrial grade 85% formic acid of Zhangzhou San’an Chemical Co., Ltd. is 2000 yuan / ton, that of Jintan local industrial supply and Marketing Co., Ltd. is 2400 yuan / T, and that of Zibo Pulis Chemical Co., Ltd. is 2200 yuan / T. the spot price of merchants is in line with the market, The actual transaction price is mainly negotiated.

For the upstream caustic soda, on October 21, the price of caustic soda in Shandong was relatively strong. The mainstream ex factory price of 32% caustic soda was 450-530 yuan / ton. October is the traditional peak season, and the demand side of caustic soda has certain support. At the same time, October is also the maintenance peak period, so the supply side may tighten. It is predicted that the short-term caustic soda price may be stronger; the upstream liquid ammonia market will rise slightly in the near future (10.01-10.21); the upstream sulfuric acid market will rise slightly in Shandong Province in the near future (10.01-10.21), and the upstream sulfur market will rise slightly in the near future, with good cost support, but the downstream purchasing enthusiasm is general, the sulfuric acid supply is normal, and the factory price of sulfuric acid in the future market will fluctuate slightly As of October 21, the average price quoted by enterprises was 1932.50 yuan / ton, up 7.66% compared with October 1.

According to the price monitoring of the business agency, on October 21, 2020, there were 18 kinds of commodities in the list of commodity price rise and fall, including 1 commodity with an increase of more than 5%, accounting for 1.1% of the total number of commodities monitored in this plate; the top three commodities that increased were butadiene (5.10%), formic acid (3.23%) and hydrogen peroxide (3.11%). There were 7 kinds of commodities that declined on a month on month basis, with R22 (- 4.60%), TDI (- 0.96%) and bisphenol A (- 0.79%). The average rise or fall was 0.2%.

3、 Future forecast

Formic acid analysts of the business community believe that in the near future, the raw material prices are stable and strong, and the downstream demand is steadily followed up. It is expected that the industrial grade formic acid market will be mainly stable in the short term, and more attention should be paid to the market news guidance.