July 13th, according to reports
According to the commodity market analysis system, the recent Chinese formic acid market has shown a trend of stabilizing after a rise and maintaining a steady horizontal trend. As of July 13, the benchmark price of formic acid was 2,300 CNY per ton, an increase of 9.52% from 2,100 CNY per ton at the beginning of the month.
After a continuous increase, the price has stabilized.
In early July, the formic acid market experienced several consecutive days of rising prices, leading to a temporary recovery in trading activity and laying the foundation for subsequent price stabilization. However, after July 6, the upward momentum in the market gradually waned, and overall market conditions returned to a more rational and stable range. From the perspective of key supporting factors, the previous trend of improving sales continued to gain traction, effectively driving the industry’s overall inventory levels down to a moderate and reasonable range. As a result, inventory pressure within the industry has become manageable, providing solid fundamental support for the stable operation of formic acid prices at this stage and effectively mitigating the risk of price declines, thereby strengthening the market’s bottom.
From a market constraint perspective, the current formic acid industry in China is in the traditional off-season for consumption, with overall terminal demand being relatively weak. The pace of rigid demand procurement has slowed down, and the market lacks continuous demand growth to drive prices higher, which is the core constraint for maintaining a stable market. Overall, at this stage, the supply and demand dynamics in the formic acid market in China are tending towards equilibrium. The favorable support from a healthy reduction in inventory is offset by the pressure from weak demand during the off-season, resulting in a stable market situation.
Market Forecast: In the absence of any clear positive factors—such as new favorable industry policies, fluctuations in raw material prices, or increased demand—in the near term, the Chinese formic acid market will likely find it difficult to break its current equilibrium. It is expected to continue its stable, sideways trading pattern going forward, with mainstream prices remaining largely unchanged and no significant upward or downward price movements anticipated for the time being.
