Price trend

According to the monitoring data of SunSirs, as of September 18, the average price of formic acid quoted by formic acid enterprises was 3,500.00 RMB/ton, which was flat compared with the price of last Wednesday (September 14), a decrease of 7.08% compared with the price on August 18, and a decrease of 25.53% in a three-month cycle. .

Analysis review

Recently (9.14-9.18), the domestic market price of industrial grade 85% formic acid was running steadily. Recently, the prices of upstream raw materials liquid ammonia and methanol were relatively strong, caustic soda was relatively weak, and sulfuric acid was temporarily stable, so the cost had little impact. The company's shipments were acceptable, and downstream industries such as medicine, rubber, leather, and pesticides purchased goods on an order-by-order basis according to market demand. The overall market price was mainly based on stable operation, with no obvious fluctuations.

In terms of cost: upstream caustic soda, according to the monitoring data of SunSirs, the price of caustic soda was weak this week (9.12-9.16). The average price of caustic soda in Shandong at the beginning of the week was about 1,052 RMB/ton, and the average price of caustic soda in Shandong at the weekend was 1,048 RMB/ton, the price was lowered by 0.38%; upstream liquid ammonia, on September 16, the reference price of liquid ammonia was 4,306.67 RMB/ton, an increase of 11.38% compared with September 1 (3,866.67 RMB/ton); upstream sulfuric acid, the domestic sulfuric acid market price was temporarily stable on September 16; upstream methanol, according to the monitoring data of SunSirs, on September 16, the domestic methanol east China port was 2,770 RMB/ton, an increase of 1.79% from the previous trading day, a month-on-month increase of 12.69%, and a year-on-year decrease of 9.40%.

Market outlook

The formic acid analyst of SunSirs believes that the current cost impact is limited, downstream purchases are on-demand, and market transactions are acceptable. It is expected that in the short term, the domestic industrial-grade 85% formic acid market may be stable, and more attention should be paid to downstream pre-holiday stocking needs.

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