Price trend

According to the commodity market analysis system of SunSirs, the domestic 85% industrial-grade formic acid showed a volatile trend recently. As of September 8, the SunSirs benchmark price of domestic 85% industrial-grade formic acid was 3,220 RMB/ton down 3.98% from the price of 3,353 RMB/ton at the beginning of September, down 9.8% from the previous month and up 25% from the previous year.

Analysis review

The demand in the terminal consumer market was mediocre, and people were taking a wait-and-see attitude

The formic acid price deviated somewhat from market expectations as of September 8. Coupled with weak demand, downstream formic acid customers were generally adopting a cautious wait-and-see approach, maintaining only rigid purchasing demands. Consumption was clearly insufficient, resulting in low shipments.

Supply may be shrinking

Export orders were shrinking, while production on the supply side remained stable. This temporary imbalance in the supply and demand landscape had pushed prices into a downward trend. Market sources indicated that the Liaocheng factory was scheduled for maintenance, which is expected to have a temporary impact on the supply landscape.

Market outlook

SunSirs’ Formic Acid Data Analyst believes that as of September 8, the formic acid market was in a volatile downward phase, and subsequent prices may be affected by the maintenance plans of major manufacturers. Specific details still need to be monitored by market news.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.