The formic acid market was stable in January

1、 Formic acid price trend

 

Gamma Polyglutamic Acid

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

 

2、 Market analysis

 

According to the data of the business club’s block list, as of January 31, the average quotation price of formic acid enterprises was 2650 yuan / ton, which was the same as that of January 1, and increased by 20.45% year-on-year in a three-month cycle.

 

In January, the market price of 85% industrial grade formic acid was stable. In January, the quotation of formic acid market remained high and stable. The downstream pesticide, rubber, leather and pharmaceutical industries purchased goods according to the market demand, mainly with rigid demand, and the focus of market negotiation was stable.

 

According to the data monitoring of the business association, the price quotation of some formic acid enterprises is summarized as follows: the quotation of industrial grade 85% formic acid of Zhangzhou San’an Chemical Co., Ltd. is 2600 yuan / ton, the quotation of industrial grade 85% formic acid of Zibo Pulis Chemical Co., Ltd. is 2550 yuan / ton, the quotation of industrial grade 85% formic acid of Jintan local industrial supply and Marketing Co., Ltd. is 2800 yuan / ton, and the quotation of industrial grade 85% formic acid of Shandong tamasuk Chemical Co., Ltd. is 2600 yuan / ton It’s 2550 yuan / ton. The spot price of the merchants depends on the market. The actual transaction price is mainly through negotiation.

 

On the upstream side, according to the monitoring data of the business community (1.25-1.29), the average price of upstream caustic soda as of January 29 was 472.50 yuan / ton, down 2.07% compared with the beginning of the week; the average price of upstream liquid ammonia as of January 29 was 3383.33 yuan / ton, flat compared with the beginning of the week; the average price of upstream sulfuric acid as of January 29 was 322.50 yuan / ton, up 5.74% compared with the beginning of the week; As of January 29, the average quoted price of upstream methanol was 2290 yuan / ton, down 1.93% compared with the beginning of the week.

 

According to the price monitoring of business community, in the list of rise and fall of commodity prices in January 2021, there were 55 kinds of commodities in the chemical industry sector, among which 28 kinds of commodities increased by more than 5%, accounting for 30.4% of the number of commodities monitored in the sector; the top three commodities increased were bisphenol A (39.00%), lithium carbonate (36.40%) and DMF (25.96%). There were 31 kinds of commodities with a month on month decrease, and 14 kinds of commodities with a decrease of more than 5%, accounting for 15.2% of the number of commodities monitored in this sector; the top three products with a decrease were hydrochloric acid (- 32.17%), chloroform (- 31.51%) and sulfuric acid (- 25.43%). The average rise and fall this month was 1.85%.

 

3、 Future forecast

 

Business community formic acid analysts believe that at present, the overall price of domestic industrial grade formic acid market is relatively stable, the cost support is acceptable, and the market demand remains just in demand. 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.

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