1、 Formic acid price trend

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

2、 Market analysis

Formic acid market prices declined slightly. According to the data of the business club’s block list, as of February 23, the average quotation price of formic acid enterprises was 2600 yuan / ton, down 1.89% compared with the price before the festival (February 10), down 1.89% compared with January 23, and up 33.33% compared with the same period last year.

Recently, the prices of raw materials have gone up and down, the support for formic acid cost is general, the enthusiasm for downstream market entry is general, the just need purchase in the market needs to be restored, the market transaction atmosphere is flat, and the market is weak. According to the monitoring data of the business association, the price of formic acid of some enterprises is summarized as follows: the quotation of industrial grade 85% formic acid of Zhangzhou San’an Chemical Co., Ltd. is 2500 yuan / ton, that of Zibo Pulis Chemical Co., Ltd. is 2500 yuan / ton, that of Jintan local industrial supply and Marketing Co., Ltd. is 2800 yuan / ton, and the spot price of the merchants follows the market, The actual transaction price is mainly through negotiation.

The price of upstream caustic soda in Shandong Province was weak on February 22nd. The mainstream ex factory price of 32% caustic soda was 400-500 yuan / ton. The downstream purchasing demand was general and the market atmosphere was not good. After the Spring Festival, there were still few inquiries and transactions. It was expected that caustic soda would be sorted out later or in a narrow range. The price of upstream liquid ammonia in Shandong Province rose slightly on February 22nd, and the inventory pressure eased. Some large factories increased 50 yuan/ After the year, the manufacturer maintained production, and the ammonia volume in the region was full, and the mainstream price in the region was 3000-3200 yuan / ton; for upstream sulfuric acid, the sulfuric acid Market in Shandong rose on February 22, and the sulfur market in the upstream was recently consolidated at a high level, and the cost support was good, but the purchasing enthusiasm in the downstream was general, the sulfuric acid supply was normal, and the ex factory price of sulfuric acid in the future fluctuated slightly; for upstream methanol, according to the monitoring data of the business community As of February 22, the average price quoted by enterprises was 2270 yuan / ton, up 0.78% compared with the price on February 18.

According to the price monitoring of the business community, on February 22, 2021, in the list of commodity prices, there were 50 kinds of commodities in the chemical industry sector, among which 27 kinds of commodities increased by more than 5%, accounting for 29.3% of the total number of commodities monitored in the sector; the top three commodities were polymeric MDI (33.42%), n-butanol (industrial grade) (23.66%), ISO octanol (20.46%). There were 5 kinds of commodities with a month on month decrease, and 1 kind of commodities with a decrease of more than 5%, accounting for 1.1% of the monitored commodities in the sector; the top 3 products with a decrease were hydrogen peroxide (- 6.71%), propane (- 3.96%) and caustic soda (- 3.17%). The average daily rise or fall was 3.7%.

3、 Future forecast

According to formic acid analysts of business news agency, the recent rise and fall of raw material prices, limited cost support, and flat market atmosphere are expected. It is expected that the formic acid market will be weak and stable in the short term, and more attention should be paid to market information guidance.