According to the Commodity Market Analysis System of Shengyi Society, the formic acid market has been operating steadily recently. As of December 5th, the benchmark price of formic acid in Shengyi Society was 2910 yuan/ton, which was higher than the same period last week (November 28th), month on month and year-on-year.
There is a significant contraction on the supply side

Part of the equipment in a large production enterprise in Liaocheng is currently under maintenance, and it is expected to maintain the market for one month. At the same time, a major manufacturer in Feicheng has implemented production reduction measures, resulting in an overall decrease in market supply.
High inventory levels combined with weak demand
The current market inventory is at a medium to high level, and the shipment volume has relatively decreased compared to the previous period. The demand side is characterized by “rigid demand dominance and limited increment”. End users generally adopt an on-demand procurement strategy, and the overall market demand performance is flat, lacking significant growth momentum.
The formic acid data analyst of Shengyi Society believes that the domestic formic acid market price will remain stable in early December. Although the supply side has shrunk due to the impact of enterprise maintenance and production reduction, sufficient industry inventory has become an important support for price stability, maintaining a balance between supply and demand. In the short term, if there are no significant changes in supply side maintenance and production reduction, and inventory levels remain at the current level, it is expected that the domestic formic acid market price will continue to operate steadily.