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. According to the data of the business club, the average price quoted by formic acid enterprises as of December 22 was 2383.33 yuan / ton, which was 6.72% higher than last Tuesday (December 15), and 15.32% higher than that of last Tuesday (December 15). Recently, some enterprises have reduced the production load, and the market is affected by the shortage of supply. The formic acid market continues to rise, and the price rises steadily.

According to the data monitoring of the business agency, the quotation of some enterprises’ formic acid price is 2400 yuan / ton for industrial grade 85% formic acid of Zhangzhou San’an Chemical Co., Ltd., 2550 yuan / ton of industrial grade 85% formic acid of Zibo pulisi Chemical Co., Ltd., and 3200 yuan / ton of industrial grade 85% formic acid of Henan bafosi chemical products Co., Ltd, The actual transaction price is mainly negotiated.

For the upstream caustic soda, on December 21, the price of caustic soda in Shandong was temporarily stable, and the mainstream ex factory price of 32% caustic soda was 400-530 yuan / ton. The downstream purchasing demand was general, and there was a certain conflict with the current caustic soda price. It is expected that the follow-up or narrow range of caustic soda sorting will be weak. According to the monitoring data of the business agency, the average price quoted by enterprises as of December 21 was 3233.33 yuan / ton, up 2.11% compared with the beginning of the month %For upstream sulfuric acid, on December 21, the sulfuric acid Market in Shandong was temporarily stable, and the sulfur market in the upstream region rose slightly recently with good cost support, but the downstream purchasing enthusiasm was general, the supply of sulfuric acid was normal, and the ex factory price of sulfuric acid in the future market fluctuated slightly; for upstream methanol, the domestic methanol market situation continued to rise recently, and some manufacturers increased the ex factory quotation, with the price adjustment range of 50-80 yuan / ton. According to the monitoring data of business agency, as of December 21, the average price of methanol producers in Shandong was 2290 yuan / ton, with a month on month increase of 8.15% and a year-on-year increase of 9.57%.

According to the price monitoring of the business community, on December 21, 2020, there were 16 kinds of commodities in the list of rise and fall of bulk commodity prices in the chemical industry sector, with the top three rising commodities being octanol (4.71%), cyclohexanone (3.71%) and n-butanol (industrial grade) (3.62%). There were 14 kinds of commodities with a decrease of more than 5%, accounting for 1.1% of the total number of commodities monitored in this sector; the top three products were silicone DMC (- 5.43%), epoxy resin (- 4.91%), acetone (- 4.80%). The average rise and fall was 0.02%.

3、 Future forecast

Formic acid analysts of the business community believe that the upstream raw material support is OK in the near future, the supply of formic acid market is reduced, and the downstream demand procurement is not obvious. It is expected that the formic acid market will be strong in the short term, and more attention should be paid to the market news guidance.