Formic Acid Price | Current and Historical
Monitor Formic Acid Prices Worldwide
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See monthly Formic Acid prices in 5 locations: United States, South America, Europe, South Asia & Oceania, China, Middle East. Also check Formic Acid price history since 2007. The chart below is a sample of Intratec Primary Commodity Prices - subscribe now and gain access to current prices of 237 commodities, including Formic Acid.
Data Legend. The Formic Acid price chart shows the prices in USA Dollar per metric ton (USD/mt) in 6 locations, as follows:
- US: Formic Acid, United States, transaction, fob
- SAM: Formic Acid, South America, transaction, cif, Brazil
- EUR: Formic Acid, Europe, transaction, cif, Netherlands
- SEA: Formic Acid, South Asia & Oceania, transaction, cif, India
- CN: Formic Acid, China, transaction, fob
- MDE: Formic Acid, Middle East, transaction, cif, Saudi Arabia
Data Use. Formic Acid prices are provided as an annual subscription where subscribers have access to reliable pricing data of 237 commodities worldwide. To better understand data provided by Intratec Primary Commodity Prices, check the following documents: Price Assessment Basis , Commodities Specifications , Methodology , User Guide , and Glossary .
Intratec Primary Commodity Prices
Track global current prices of 237 commodities including Formic Acid
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Price Dynamics. The Formic Acid price in United States increased during November 2018 to 1,230 USD per metric ton, which represents a slight rise of 2% compared to the previous month’s value. On a year-over-year basis, Formic Acid prices in United States increased significantly by 22%. Meanwhile, in Netherlands, the average price of Formic Acid amounted to 504 USD per metric ton, from 562 USD per metric ton one year earlier. On a month-over-month basis, the Formic Acid price in Netherlands is 9% lower than the price one month before.
The price of Formic Acid in China declined considerably throughout November 2018, reaching 567 USD per metric ton. The price in China is 7% lower than the average price in the previous month and 42% lower than the average price one year before. In contrast, Formic Acid prices in India decreased significantly during November 2018, reaching 737 USD per metric ton, which means a decline of 18% from the previous month’s price and a decline of 23% from the previous year’s price.
The Formic Acid prices in Saudi Arabia experienced a modest decline of 22 USD per metric ton from the prior month's price, to 577 USD per metric ton. Such price movement in Saudi Arabia meant a decrease of 4% on a monthly basis and a decrease of 44% on a yearly basis. On the other hand, in November 2018, the Formic Acid price in Brazil witnessed a decline of 138 USD per metric ton when compared against the previous month's price, to 851 USD per metric ton. The November 2018 price in Brazil is 6% higher than the price one year before.
About Formic Acid. Formic Acid (a.k.a. Methanoic Acid) is an organic compound, the simplest carboxylic acid in existence. The acid is a colorless fuming liquid, with a pungent odor. It was first isolated in 1671, however, it began to be industrially produced in the 1960s, when it became available as a by-product of acetic acid production. Currently, the main method of production has changed (based on methanol), and methanoic acid can be classified as a medium-volume chemical commodity, with a world production capacity of around 800000 tons/year.
Formic acid is commonly shipped in rail or road tankers/drums. It is classified as a corrosive material and for storage and transportation in concentrations of 85% or less, stainless steel or plastic (HDPE, PP or alike) should be used. For concentrations above 85%, Austenitic chomium-nickel steels are recommended. It should be noted that formic acid at higher concentrations can slowly decompose and liberate carbon monoxide, so it should be stored in well-ventilated areas.
Raw materials and the respective production processes employed in the manufacturing of Formic Acid are listed below.
- Methanol (carbonylation, followed by hydrolysis, sometimes involving ammonia and sulfuric acid),
- Hydrocarbons (liquid-phase oxidation; co-product of acetic acid production),
- Formate salts (acidolysis)
The uses and applications of Formic Acid may vary according to its specification. The main forms of Formic Acid are pure/glacial grade (99% minimum purity); reagent grade (95% minimum purity); 90% solution; 94% solution; and 85% solution.
