1、 Formic acid price trend

(Figure: p-value curve of formic acid product)

2、 Market analysis

In April, 85% formic acid Market in China went down. According to the data of the business club’s block list, as of April 27, the average quotation price of formic acid enterprises was 2433.33 yuan / ton, down 18.44% compared with the price at the beginning of the month and up 5.80% compared with the same period last year.

In April, 85% of the domestic formic acid market was weak as a whole, and the prices of manufacturers and dealers were reduced to varying degrees. In the first ten days of April, the price of formic acid was lower than that of the previous period. The downstream purchased on demand, and the shippers were active in shipping. In the middle of April, the price of raw materials was weak, and the cost support was insufficient, which dragged the formic acid market downward. In the last ten days, due to the high inventory, the shippers’ mentality was under pressure, and the market continued to decline.

According to the data monitoring of business society, the price of formic acid of enterprises at the end of April was summarized as follows: the quotation of industrial grade 85% formic acid of Zhangzhou San’an Chemical Co., Ltd. was 2300 yuan / ton, and the quotation of industrial grade 85% formic acid of Shandong tamasuk Chemical Co., Ltd. was 2300 yuan / ton; Jinan jinrihe Chemical Co., Ltd. offers industrial grade 85% formic acid at 2300 yuan / ton, Liaocheng transportation group Hongmao Materials Co., Ltd. offers industrial grade 85% formic acid at 2250 yuan / ton, Jintan local industrial supply and Marketing Co., Ltd. offers industrial grade 85% formic acid at 2600 yuan / ton. The spot price of merchants depends on the market. The actual transaction prices of different brands, different specifications and products are mainly negotiated.

For upstream caustic soda, on April 27, the price of caustic soda in Shandong remained weak, and now the mainstream ex factory price of 32% caustic soda is 390-490 yuan / ton. The company’s shipment is tepid, the downstream receiving situation is light and stable, and the wait-and-see atmosphere is strong. It is expected that caustic soda will continue to operate with small fluctuation in the future; The reference price of upstream liquid ammonia was 3890.00 on April 27, which was 1.19% lower than that on April 1 (3936.67); On April 27, the market of sulfuric acid in Shandong Province was temporarily stable. The market of sulfur in the upstream was recently consolidated at a high level, and the cost support was good. However, the purchasing enthusiasm in the downstream was general, the supply of sulfuric acid was normal, and the ex factory price of sulfuric acid rose slightly in the future; The reference price of upstream methanol was 2565.00 on April 27, up 7.89% compared with 2377.50 on April 1.

3、 Future forecast

Business community formic acid analysts believe that at present, 85% of the domestic industrial formic acid market is weak and stable, the support from the cost side is acceptable, the market supply side is abundant, and the procurement of downstream enterprises is just in demand. It is expected that the formic acid market will consolidate in the short term, mainly digest the inventory, and pay more attention to the changes of raw material prices and market information guidance.