Price trend

According to the Commodity Market Analysis System of SunSirs, formic acid has been rising again and again recently. As of March 17th, the average price of 85% formic acid in China was 3,325 RMB/ton, an increase of 9% from 3,050 RMB/ton at the beginning of March; An increase of 12.7% compared to the beginning of the year at 2,950 RMB/ton; Compared to the price of 3,300 RMB/ton at the same period last year, it has increased by 0.76%.

Analysis review

Shortage of supply

Due to insufficient gas supply and limited production capacity, Asde has suspended domestic trade orders and focused on delivering export orders; Luxi Chemical has been operating normally and arranging shipments.

Raw material prices rose

Domestic methanol production remained at a relatively high level, with downstream MTO units restarting. At the same time, traditional demand was relatively stable, and the actual performance was good, which helped to boost the rise of formic acid.

Market outlook

According to the formic acid data analyst from SunSirs, the supply of formic acid in the market has decreased, coupled with the rise of raw materials, resulting in a strong operation. It is expected to continue to maintain a high level in the near future, and specific market news and changes in supply and demand still need to be monitored.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.