SunSirs: The Domestic Price of Calcium Formate Had Slightly Increased This Week (March 29-April 3)
April 07 2024 15:46:02 SunSirs (John)
Price trend
This week (3.29-4.3), according to the Commodity Analysis System of SunSirs, the average price of industrial grade 98% calcium formate quoted by domestic calcium formate enterprises was 3,807.00 RMB/ton, an increase of 75 RMB/ton or 2.01% compared to March 30th (reference price of calcium formate was 3,732.00 RMB/ton).
Analysis review
There were two main reasons for the rise in the calcium formate market. On the one hand, the raw material formic acid was bullish in the early stage. According to the commodity market analysis system of SunSirs, as of March 27th, the average price quoted by formic acid enterprises was 3,300.00 RMB/ton, which was 4.76% higher than the price on March 1st (formic acid reference price was 3,150.00 RMB/ton). This puts significant cost pressure on calcium formate producers; On the other hand, the overall stock on the supply side was insufficient and supply was tight, and some manufacturers were still in the stage of arranging orders and shipping. However, overall, the demand side was mostly for rigid procurement, which was at a conventional level and had limited room for growth.
Market outlook
In the short term, the domestic price of calcium formate may show a consolidation trend and maintain stable operation.
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