Weak demand for downstream formic acid in China leads to fluctuating prices

September 08, News

According to the commodity market analysis system: Recently, 85% industrial grade formic acid in China has shown a fluctuating trend. As of September 8, the benchmark price for 85% industrial grade formic acid in China was 3,220 CNY per ton, down 3.98% from 3,353 CNY per ton at the beginning of September, a decrease of 9.8% month-over-month, and an increase of 25% year-over-year.

Terminal consumer market demand is mediocre, and a wait-and-see attitude is being adopted.

The current formic acid price deviates significantly from market expectations. Coupled with weak demand, downstream customers in China are generally adopting a cautious and wait-and-see attitude, maintaining only rigid procurement needs. The purchasing power is clearly insufficient, and the shipment volume is low.

Supply may contract somewhat

Export orders are showing a contraction, while the production pace on the supply side remains stable. The phased imbalance in the supply and demand situation is prompting prices to enter a downward trend. According to market information: there are maintenance plans for the factory in Liaocheng subsequently, which is expected to have a phased impact on the supply situation.

Formic acid data analysts believe: Currently, the formic acid market in China is in a phase of fluctuating decline. Subsequent prices may be affected by major manufacturers' maintenance plans, but specific impacts still need to be monitored based on market news.