Price trend

This week (2.28-3.6), the main raw material of calcium formate, formic acid, had seen an upward trend in price and supply was tight. The supply side had a strong sentiment of price supportive, which had driven up the price of calcium formate. As of March 6th, the benchmark price of calcium formate in SunSirs was 3,782.5 RMB/ton, which was 200 RMB/ton higher than last Monday (3,582.5 RMB/ton), with a 5.58% increase. But the market's wait-and-see sentiment had increased, and actual transactions were mainly based on demand. As of this Wednesday, the market reference price was around 3,800 RMB/ton.

Analysis review

Cost side:

The market price of raw material formic acid had increased significantly, with the benchmark price of formic acid in SunSirs being 3,275 RMB/ton. Compared with last week's (3,125 RMB/ton), the price had increased by 150 RMB/ton, an increase of 4.80%. The supply of goods in the formic acid field was scarce, and the manufacturer's inventory was not high. However, the high price had led downstream customers to buy cautiously, limiting the increase. As of March 6th,  the focus was on wait-and-see.

Market outlook

Costs help pushes forward, and in the short term, the price of calcium formate may be mainly strong.

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