Both upstream methanol fluctuations and downstream pharmaceutical demand patterns were reflected in the formic acid market&#xx;s divergent price trends across key regions during the second week of May.
The drop in upstream methanol prices, which are still declining due to worries about oversupply and a slackened mood in the market, caused a slight decline in formic acid prices in China. There was only modest buying activity in the pharmaceutical sector, which is a significant user of formic acid for the synthesis of APIs (active pharmaceutical ingredients), and no price reversal was prompted. The region&#xx;s manufacturers were cautious, concentrating on preserving margins rather than increasing production.
Japan also saw a similar trend, with formic acid prices gradually declining. Japanese suppliers saw little reason for upward pricing momentum, as methanol prices were on a downward trajectory and the pharmaceutical sector&#xx;s...
