SunSirs: Supported by Multiple Favorable Factors, the Price of Formic Acid Significantly Increased

Price trend

According to the Commodity Market Analysis System of SunSirs, formic acid has seen a significant increase in recent times. As of March 11th, 85% of industrial formic acid in China was priced at 3,175 RMB/ton, up 4.1% from 3,050 RMB/ton at the beginning of March and down 3.05% from 3,275 RMB/ton in the same period last year, reaching its highest level in 2025.

Positive factor one: Rising raw material prices

Raw material methanol was experiencing a strong upward trend. Some units in the main methanol production area had maintenance plans, which are expected to reduce supply and significantly increase prices.

The trend of raw material sulfuric acid was upward. The price of sulfuric acid raw materials has risen, and the strong cost has driven the sulfuric acid market, resulting in a preference for sulfuric acid demand. As of March 11th, the inventory of acid enterprises was generally running without pressure, and the price trend was upward.

Positive factor 2: Large factories were temporarily not shipping, resulting in a decrease in on-site supply

As of March 11th, the production of Asde formic acid was suspended, and the supply resources on site were tight, resulting in a continued strong market trend for formic acid.

Positive factor three: The downstream pesticide market demand was improving

The seasonal demand for pesticides in the market is improving, and some products are in a tight supply situation. Most manufacturers had low power consumption, resulting in low overall market inventory and relatively firm prices.

Market outlook

The data analyst of SunSirs believes that under the favorable factors of multiple parties, the price of formic acid has risen significantly. It is expected that there will still be upward momentum in the later stage, and the price of formic acid will continue to operate to be stronger

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