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 February 20, the average quotation price of formic acid enterprises was 2650 yuan / ton, which was the same as the price before the festival (February 10) and that on January 20, with a three-month cycle and a year-on-year increase of 20.45%. After the festival, formic acid market as a whole maintained a stable price, downstream manufacturers to purchase on demand, finishing wait-and-see.

Upstream, according to the monitoring data of the business community, the average price of upstream caustic soda was 472.50 yuan / ton as of February 20, which was the same as that before the festival (February 10); the average price of upstream liquid ammonia was 3300 yuan / ton as of February 20, which was 0.50% lower than that before the festival (February 10); the average price of upstream sulfuric acid was 342.50 yuan / ton as of February 20, which was the same as that before the festival (February 10) The price before the festival (February 10) increased by 6.20%; as of February 20, the average price of upstream methanol quoted by enterprises was 2267.50 yuan / ton, which increased by 0.67% compared with the price before the festival (February 10).

According to the price monitoring of the business community, on February 19, 2021, in the list of commodity prices, there were 33 kinds of commodities in the chemical industry sector that rose month on month, among which 9 kinds of commodities increased by more than 5%, accounting for 9.8% of the number of commodities monitored in the sector; the top 3 commodities were hydrobenzene (15.81%), 1,4-butanediol (13.93%) and isooctanol (13.01%). There was a total of one commodity that declined month on month, and the product that declined was DMF (- 1.38%). The average daily rise and fall was 1.43%.

3、 Future forecast

Business community formic acid analysts believe that in the near future, the price of raw materials is stable and relatively strong, and the cost side has some support. In the process of downstream production, the overall trading atmosphere is mild. It is expected that the formic acid market will be stable in the short term, and more attention should be paid to the market information guidance.