Price trend

According to the data of SunSirs: on June 1, the domestic average price of industrial-grade formic acid was 2,000 RMB/ton. As of June 5, the domestic average price of industrial-grade formic acid was 1,933.33 RMB/ton, a decrease of 3.33% this week. The formic acid market was mainly weak and stable.

Analysis review   

Product: This week, the domestic industrial grade 85% formic acid market as a whole showed a weak and stable trend. After foreign trade export restrictions, domestic spot stocks were sufficient, and some manufacturers lowered their prices. At present, the market's demand for formic acid is general, and the device is operating normally. In terms of price: The offer price of industrial barreled formic acid generally maintained at around 2,192 RMB/ton this week, and the ex-factory price of mainstream industrial purified water formic acid was around 2,000 RMB/ton. As of Friday (June 5), Jinzhou Jinhongda Chemical Co., Ltd. quoted 1,950 RMB/ton; Zibo Pulis Chemical Co., Ltd. quoted 1,550 RMB/ton; Zhangzhou Sanan Chemical Co., Ltd. quoted 1,550 RMB/ton; Luxi Chemical offered 1,750 RMB/ton; Hangzhou Fengchang Trading Co., Ltd. 85% industrial barrel formic acid price was 2,300 RMB/ton.

Industrial chain: The mainstream of liquid ammonia in formic acid upstream products has been steadily adjusted within a narrow range, and the prices in individual regions have increased slightly. Market demand is acceptable. The domestic caustic soda market fluctuated in a narrow range. Some manufacturers' caustic soda ex-factory price was increased by 10-20 RMB/ton. The downstream companies mostly purchased on demand. It is expected that the market will fluctuate within a narrow range. In the second half of the week, market conditions have basically stabilized, and market demand has been modest. Upstream products do not support the cost of formic acid. The downstream leather and pesticide industries have relatively stable demand for formic acid, and the sales situation is average.

Market outlook

The SunSirs formic acid statistician believes that the current domestic industrial-grade formic acid market remains generally stable. The upstream products are running weakly, the formic acid price has no favorable support, and the downstream demand is general. The formic acid market is expected to be stable in the short term.

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