This chart shows Formic Acid price assessments in USA Dollar per metric ton (USD/mt) in 4 locations, as follows:
- Formic Acid, US (United States): Formic Acid, export transaction price, fob, United States
- Formic Acid, EUR (Europe): Formic Acid, import spot price, cfr, Netherlands (netforward from fob China)
- Formic Acid, CN (China): Formic Acid, domestic spot price, exw, China
- Formic Acid, SAM (South America): Formic Acid, import transaction price, cif, Brazil
The chart above is a sample of Intratec Primary Commodity Prices. Subscribe and access now current prices of 225 commodities, including Formic Acid.
Data Use
Formic Acid prices are provided as an annual subscription where subscribers have access to reliable pricing data of 225 commodities worldwide.
Intratec's methodology employs a structured big data strategy that utilizes advanced technologies to extract publicly available data from primary sources such as governmental trade records, statistics bureaus, and international agencies.
This data is then processed through mathematical models to generate reliable assessments, published at the very beginning of each month. To better understand the data provided check Intratec Primary Commodity Prices Methodology.
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Formic Acid price assessments are available via different delivery methods:
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Formic Acid Price Outlook
Formic Acid Price Outlook. The price of Formic Acid (United States) increased during May 2020 to 842 USD per metric ton, which represents a considerable rise of 36% compared to the previous month’s value. On a year-over-year basis, the prices of Formic Acid (United States) decreased significantly by 23%. Meanwhile, the average price of Formic Acid (China) amounted to 340 USD per metric ton, from 449 USD per metric ton one year earlier. On a month-over-month basis, the price of Formic Acid (China) is 3% lower than the price one month before.
The price of Formic Acid (Europe) rose considerably throughout May 2020, reaching 444 USD per metric ton. The price is 13% higher than the average price in the previous month and 5% lower than the average price one year before. In contrast, the prices of Formic Acid (South America) increased significantly during May 2020, reaching 460 USD per metric ton, which means a rise of 13% from the previous month’s price and a decline of 10% from the previous year’s price.
About Formic Acid
About Formic Acid. Formic Acid (a.k.a. Methanoic Acid) is an organic compound and the simplest carboxylic acid. It is a colorless and fuming liquid with a pungent odor. First isolated in 1671, it began to be industrially produced in the 1960s as a by-product of acetic acid production. Nowadays, the main production method has shifted to a methanol-based process, and methanoic acid can be classified as a medium-volume chemical commodity. In Europe, most of the Formic Acid finds application as a silage aid and in the feed industry. However, around the world – primarily in China – Formic Acid is also applied in leather and tanning, textile, natural rubber, and drilling fluids industries.
Formic Acid Handling. 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.
Formic Acid Production. 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)
Formic Acid Uses. The uses and applications of Formic Acid may vary according to its specification. Typically, the acid can be commercialized at concentrations varying between 75-99 wt%, depending on the application. The most common is the 85 wt% purity.