According to the Commodity Market Analysis System of Shengyi Society, formic acid has seen a significant increase in recent times. As of March 11th, 85% of industrial formic acid in China is priced at 3175 yuan/ton, up 4.1% from 3050 yuan/ton at the beginning of March and down 3.05% from 3275 yuan/ton in the same period last year, reaching its highest level in 2025.
Positive news one: Rising raw material prices
Raw material methanol is experiencing a strong upward trend. Some units in the main methanol production area have maintenance plans, which are expected to reduce supply and significantly increase prices.
The trend of raw material sulfuric acid is 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. At present, the inventory of acid enterprises is generally running without pressure, and the price trend is upward.
Benefit 2: Major factories are temporarily not shipping, resulting in a decrease in on-site supply
At present, the production of Asde formic acid is suspended, and the supply resources on site are tight, resulting in a continued strong market trend for formic acid.
Positive news three: The downstream pesticide market demand is improving
The seasonal demand for pesticides in the market is improving, and some products are in a tight supply situation. Most manufacturers have low power consumption, resulting in low overall market inventory and relatively firm prices.
The data analyst of Shengyi Society believes that under the favorable factors of multiple parties, the price of formic acid has risen significantly, and it is expected that there will still be upward momentum in the later period. The price of formic acid is running relatively strong.
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