With immediate effect or as existing contracts permit, BASF is increasing the price for Formic Acid and Propionic Acid as follows:
Formic Acid
- Europe: +100 Euro/ton (MT)
- Asia: +120 US-Dollar/ton (MT)
- South America: +110 US-Dollar/ton (MT)
- North America: +0.05 US-Dollar/pound (LB)
Propionic Acid
- Europe: +150 Euro/ton (MT)
- Asia: +180 US-Dollar/ton (MT) (*excluding China)
- China: +100 US-Dollar/ton (MT)
- South America: +110 US-Dollar/ton (MT)
- North America: 0.05 US-Dollar/pound (LB)
Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. In leather processing, formic acid ensures the efficient fixing of dyes and retanning agents. Potassium formate, a salt of formic acid, is an environmentally acceptable and highly efficient de-icing agent used on roads and airport runways.
Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration. Moreover, formic acid is a powerful descaling agent. Propionic Acid is widely used in the production of pharmaceuticals, crop protection agents, food and feed preservatives and plastics.
BASF Corp. is the largest affiliate of BASF SE and the second largest producer and marketer of chemicals and related products in North America.
