SunSirs: The Market Price of Industrial Grade Calcium Formate Was weak and Stable (May 24-29)
June 03 2024 11:32:01 SunSirs (John)
Price trend
This week (5.24-5.29), the price of industrial grade calcium formate remained stable after falling. According to the Commodity Market Analysis System of SunSirs, as of May 29th, the average price of industrial grade 98% calcium formate in China was 3,440.00 RMB/ton, a decrease of 100.00 RMB/ton compared to May 22nd (reference price of calcium formate was 3,540.00 RMB/ton).
Analysis review
Supply side:
From the monitoring chart of SunSirs data, it can be seen that the industrial grade 85% formic acid market experienced an overall decline in May. In the first half of the month, the price of raw material methanol in the market rose and cost support increased, but demand support was weak. Downstream buying was flat, and inquiries and purchases were mainly in demand. Manufacturers accumulated inventory to promote transactions, and the focus of negotiations in the formic acid market declined. In the second half of the month, the raw material methanol market surged and fell, and cost support weakened from strong to weak. The supply side had sufficient supply of goods, but the demand follow-up was limited, resulting in a bearish supply and demand side. Enterprises were actively selling at a profit margin, and the formic acid market had stabilized after a decline.
Market outlook
SunSirs’ calcium formate analysts believe that the industrial grade calcium formate market was facing severe sales pressure, and the market situation was showing a trend of profit giving operation. Against the backdrop of weak cost support, it is expected that the calcium formate market will continue to experience weak consolidation in the short term, and more attention needs to be paid to market news guidance.
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