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 5, the average quotation price of formic acid enterprises was 2633.33 yuan / ton, up 1.28% compared with the beginning of the week, down 0.63% compared with February 5, and up 35.04% compared with the same period last year.

This week, formic acid market is mainly stable, some enterprises’ quotation is up, enterprise orders and shipping situation are acceptable, and downstream on-demand procurement is the main. According to the data monitoring of the business association, the prices of formic acid of some enterprises are 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 Shandong tamasuk Chemical Co., Ltd. is 2550 yuan / ton; the quotation of industrial grade 85% formic acid of Zibo Pulis Chemical Co., Ltd. is 2500 yuan / ton; and the quotation of industrial grade 85% formic acid of Jintan local industrial supply and Marketing Co., Ltd. is 2500 yuan / ton It’s 2800 yuan / ton. The spot price of the merchants depends on the market. The actual transaction price is mainly through negotiation.

According to the monitoring data of the business community, the average quoted price of upstream caustic soda was 462.50 yuan / ton as of March 4, up 1.09% compared with the price at the beginning of the month. On March 4, the price of caustic soda in Shandong Province was consolidated. At present, the mainstream ex factory price of 32% caustic soda is 390-470 yuan / ton. The downstream enterprises mainly need to purchase, and have a strong wait-and-see attitude. It is expected that caustic soda will be consolidated in a later or narrow range.

On March 4, the price of liquid ammonia in Shandong Province stabilized and went up, the regional inventory pressure eased, the urea plant of a large factory in Shandong Province resumed production, the output of liquid ammonia decreased, and the amount of ammonia in the region decreased. The mainstream market price in this area is 3200-3350 yuan / ton. Most of the manufacturers’ devices are in normal operation, the inventory pressure is general, the downstream purchase volume is slightly increased, and the price is expected to be adjusted at a high level in the near future.

For upstream sulfuric acid, the market of sulfuric acid in Shandong Province was temporarily stable on March 4, which was flat compared with the price at the beginning of the month; for upstream methanol, according to the monitoring data of business society, the average price quoted by enterprises as of March 4 was 2332.5 yuan / ton, up 1.63% compared with the price at the beginning of the month.

According to the price monitoring of the business community, on March 4, 2021, in the list of commodity prices, there were 19 kinds of commodities in the chemical industry sector that rose month on month, of which one was more than 5%, accounting for 1.1% of the number of commodities monitored in the sector; the top three commodities that rose were polysilicon (6.54%), lithium iron phosphate (4.65%) and ammonium chloride (3.83%). There were 13 kinds of commodities with a month on month decrease, and 1 kind of commodity with a decrease of more than 5%, accounting for 1.1% of the number of commodities monitored in the sector; the top three products with a decrease were maleic anhydride (- 6.25%), crude benzene (- 3.52%) and polymerized MDI (- 2.83%). The average daily rise or fall was 0.12%.

3、 Future forecast

Business community formic acid analysts believe that in the near future, the price of raw materials is relatively strong, the cost support has risen, and the lower reaches purchase more on demand. It is expected that in the short term, the formic acid market will be mainly stable, and more attention should be paid to the guidance of market news.