Cost support: the formic acid market is running strongly after the holiday (10.8-10.14)

According to the bulk list data of business society, as of October 14, the average quotation price of formic acid enterprises was 8050.00 yuan / ton, up 0.42% compared with the price on October 8, 33.43% compared with the price on September 14, and 162.50% year-on-year in a three-month cycle.

Sodium Molybdate

After the festival, the market price of domestic industrial grade 85% formic acid is strong, mainly running. The price of raw materials operated strongly, the cost side formed a good support, the downstream just needed to buy, the market trading atmosphere was ok, the goods holders made strong offers, the market supply of low-cost goods decreased, and the focus of market negotiation was high.

Index: on October 13, the formic acid commodity index was 441.28, unchanged from yesterday, hitting a record high in the cycle, up 264.39% from the lowest point of 121.10 on December 7, 2020. (Note: the period refers to the period from September 1, 2020 to now)

In terms of cost, the reference price of upstream caustic soda was 1472.50 on October 13, an increase of 19.23% compared with October 1 (1235.00); For upstream liquid ammonia, on October 13, the reference price of liquid ammonia was 5125.00, an increase of 5.67% compared with October 1 (4850.00); For upstream sulfuric acid, on October 13, the sulfuric acid Market in Shandong was temporarily stable, and the upstream sulfur market has increased slightly recently. Some sulfuric acid manufacturers have insufficient operation, the load is reduced, the downstream formic acid market has risen sharply, and the downstream procurement enthusiasm is good; For upstream methanol, on October 13, the reference price of methanol was 4480.00, an increase of 24.01% compared with October 1 (3612.50).

The formic acid analysts of business society believe that the current cost level is running at a high level, which has obvious support for the price of formic acid and orderly market trading. It is expected that the formic acid market may operate strongly in the short term, and more attention should be paid to the guidance of market news.

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