For the Quarter Ending September 2025
North America
• In the USA, the Fumaric Acid Price Index fell by 13.6% quarter-over-quarter in Q3 2025, reflecting weaker demand and ample imports.
• The average Fumaric Acid price for the quarter was approximately USD 936.00/MT amid subdued downstream offtake and ample imports.
• Fumaric Acid Spot Price weakness followed lower freight offers; the Fumaric Acid Price Index signalled bearish pressure.
• Fumaric Acid Price Forecast shows limited near-term upside as inventories remain ample and offtake stays constrained.
• Fumaric Acid Production Cost Trend improved modestly with lower feedstock and freight costs, slightly easing landed margins.
• Fumaric Acid Demand Outlook remains subdued despite seasonal beverage strength, pressured by destocking and cautious distributor purchasing.
• Export demand weakness and rising inventories pressured the Fumaric Acid Price Index, sustaining export-led downward adjustment.
• Major North American plants operated normally while import competitiveness from Asia weighed on Fumaric Acid Price Index.
Why did the price of Fumaric Acid change in September 2025 in North America?
• Elevated import volumes from Asian exporters reduced landed costs, increasing domestic supply and pressuring prices.
• Soft downstream demand and distributor destocking limited buying urgency, exacerbating downward movement in Price Index.
• Lower freight rates and modest feedstock cost declines improved import economics, further supporting downward pressure.
APAC
• In China, the Fumaric Acid Price Index fell by 12.92% quarter-over-quarter, pressured by elevated inventories.
• The average Fumaric Acid price for the quarter was approximately USD 786.33/MT, reflecting sustained oversupply conditions.
• Fumaric Acid Spot Price momentum remained weak amid subdued downstream demand and inventory destocking pressures.
• Market Fumaric Acid Price Forecast shows easing as exporters apply discounts amid Asian FOB offers.
• Fumaric Acid Production Cost Trend softened due to lower maleic anhydride costs, reducing manufacturers' margins.
• Fumaric Acid Demand Outlook remains muted as pharmaceuticals and food sectors delay purchases amid ample stocks.
• Export competitiveness weakened; Fumaric Acid Price Index reacted to RMB strength and payment term extensions.
• Domestic plants operated at full schedules, maintaining supply while distributors destocked, pressuring spot negotiation flexibility.
Why did the price of Fumaric Acid change in September 2025 in APAC?
• High inventory accumulation across suppliers and distributors increased selling pressure, reducing spot bids and contract renewals.
• Declining maleic anhydride feedstock prices lowered production costs, prompting manufacturers to offer competitive FOB discounts.
• Weakened export demand and extended payment terms constrained cash flows, prompting suppliers to clear stock.
Europe
• In Germany, the Fumaric Acid Price Index fell by 10.6% quarter-over-quarter, driven by abundant imports.
• The average Fumaric Acid price for the quarter was approximately USD 892.67/MT, per CFR Hamburg data.
• Fumaric Acid Spot Price softened as discounted Asian offers and ample stocks reduced import values.
• Fumaric Acid Price Forecast suggests the Price Index will remain under pressure absent downstream restocking.
• Fumaric Acid Production Cost Trend eased as falling feedstock and reduced freight lowered landed production economics.
• Fumaric Acid Demand Outlook remained muted as beverage, pharmaceutical and resin buyers deferred bulk procurement.
• Fumaric Acid Price Index decline accelerated as merchants discounted to clear warehouses, constraining supplier pricing power.
• European producers maintained steady output while import flows ensured ample spot availability, limiting bullish signals.
Why did the price of Fumaric Acid change in September 2025 in Europe?
• Sustained discounted Asian export offers reduced import costs, increasing competitive pressure on domestic seller pricing.
• Elevated inventories across domestic channels curtailed procurement urgency, limiting spot buying and suppressing price momentum.
• Falling feedstock and freight rates lowered Production Cost Trend, removing cost-driven support for Fumaric Acid.
For the Quarter Ending June 2025
North America
• Fumaric Acid Price Index in North America (USA) showed a downward trend in July 2025, reversing the firm sentiment observed in June.
• The Spot Price of Fumaric Acid in the USA was recorded at USD 1085/MT on a CFR New York basis in June 2025, supported by restocking activity and solid demand across the food and beverage sectors.
• The Price Forecast for July 2025 turned bearish due to weakening procurement volumes and aggressive import competition, especially from Chinese suppliers offering lower prices despite rising freight.
• The Production Cost Trend remained relatively stable domestically; however, lower-priced imports with competitive landed costs prompted price corrections in the U.S. market.
• The Demand Outlook deteriorated in July 2025, with muted downstream inquiries from chemical, food, and pharmaceutical sectors contributing to soft spot buying.
• In response to inventory pressure, distributors and traders reduced their offers to clear accumulated stock, amplifying the negative price trajectory.
• Why did the price of Fumaric Acid change in July 2025?
• The decline was driven by lower-cost Asian imports, subdued domestic demand, high inventory levels, and limited downstream activity, leading to a bearish price correction from the previous month’s high of USD 1085/MT.
Europe
• Price Index in Germany trended downward in July 2025 as the Fumaric Acid market faced continued oversupply and weak spot demand across major downstream sectors.
• Spot Price in July 2025 was assessed at USD 942/MT CFR Hamburg by the end of the month, falling from USD 948/MT in June, driven by aggressive Chinese export offers and declining feedstock Maleic Anhydride costs.
• Price Forecast for early August 2025 indicates potential stability or slight decline as procurement remains cautious, inventory levels are high, and competitive import pricing persists from Asian suppliers.
• Production Cost Trend softened due to reduced upstream Maleic Anhydride prices and declining global oil-derived input costs, supporting the bearish pricing environment in the region.
• Demand Outlook from the food and beverage sector remained flat while resin and coating applications witnessed slower offtake, contributing to limited buying interest and muted restocking behavior in July.
• Why did the price change in July 2025?
• Prices dropped due to lower Chinese FOB offers, a surplus in domestic and imported stocks, and sustained buyer reluctance in entering long-term commitments, despite marginal freight upticks.
• Inventory levels remained elevated as buyers delayed spot procurement and operated on prior stock, further intensifying the downward pressure on the spot price.
• Supply-demand dynamics were skewed towards excess availability, with importers preferring smaller volume cargoes and traders adjusting contract terms to remain regionally competitive.
• Regional cues suggest the European market, especially Germany, will continue experiencing sluggish trade momentum in early Q3 unless downstream sectors revive consumption patterns or export markets tighten.
• Market players are expected to closely monitor import parity trends, shipping rates from China, and Euro-USD currency movements to recalibrate short-term purchasing strategies and minimize landed cost exposures.
APAC
• Fumaric Acid - FOB Shanghai (China) spot price was assessed at USD 827/MT in July 2025, down from USD 838/MT in June 2025, reflecting a 1.31% monthly decrease driven by oversupply and poor offtake in the domestic and export markets.
• The Price Index for Fumaric Acid in APAC continued to slide in July 2025 due to persistent inventory buildup, particularly in China, where slower offtake in food additives and resins sectors weighed on prices.
• The Spot Price decline was attributed to soft procurement from both local and regional buyers, while subdued inquiries from international markets added further pressure on export competitiveness.
• The Production Cost Trend in July 2025 remained low due to stable-to-declining Maleic Anhydride prices and reduced energy input costs, encouraging Chinese manufacturers to maintain output despite poor margins.
• The Demand Outlook stayed bearish across APAC as buyers in Southeast Asia, India, and South Korea were seen holding back fresh purchases amid expectations of further price corrections.
• Why did the price of Fumaric Acid change in July 2025?
• The price declined due to excessive inventory levels, a weak demand outlook from both domestic and international buyers, falling production costs, and reduced export competitiveness linked to rising freight and global currency movements.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American Fumaric Acid market experienced moderate fluctuations driven by inventory adjustments, trade uncertainties, and evolving demand patterns. The quarter began with a slight price increase of 0.41%, settling at $1225/MT CFR New York by the end of the first week of January. This followed a period of market stabilization, with producers regaining pricing leverage amid tighter domestic inventories and cautious buying ahead of proposed tariff changes under the incoming U.S. administration.
In February, prices edged higher to $1235/MT, supported by sustained demand from the food, pharmaceutical, and chemical sectors. The resumption of Chinese operations post-Lunar New Year, combined with rising freight rates and the enforcement of new U.S. tariffs—10% on Chinese goods and 25% on Canadian and Mexican imports—added further cost pressure. Despite steady procurement activity and healthy end-user demand, rising logistics costs and protectionist trade policies introduced volatility across the supply chain.
By early March, however, prices softened by 0.80%. Weakening demand, elevated inventories from front-loaded Q1 shipments, and a notable decline in transpacific freight rates led to a more competitive import environment. Buyers adopted a cautious stance, delaying fresh purchases amid economic uncertainty and policy speculation. This shift in sentiment, coupled with stable upstream costs and increased supply availability, placed downward pressure on prices as the quarter closed.
Asia Pacific
The Asian Fumaric Acid market exhibited mixed pricing dynamics across Q1 2025, beginning with a positive trend before encountering headwinds in March. In the first week of January, prices rose by 0.49% to $1035/MT FOB-Shanghai. The market benefitted from renewed manufacturing activity in China following the year-end holidays, with strong demand from domestic and international buyers. Producers maintained balanced output in response to heightened purchase inquiries, while inventory accumulation by buyers contributed to steady upward pricing momentum.
In early February, prices saw a further increase of 0.48%, reaching $1045/MT FOB-Shanghai. This uptick was driven by a gradual return to operations after the Lunar New Year, which coincided with higher production costs due to labor realignment and domestic logistical challenges. Demand from export markets, particularly in the food and pharmaceutical segments, remained firm. Rising Maleic Anhydride prices also contributed to input cost inflation, supporting overall price strength despite a slight dip in manufacturing PMI to 49.1.
However, by the first week of March, prices declined by 0.47%. Weak demand from pharmaceuticals, personal care, and industrial sectors weighed heavily on the market. Suppliers attempted to reduce excess inventory through aggressive destocking, but persistent oversupply and subdued buying interest led to price corrections. A global economic slowdown and cautious international procurement further pressured the market, marking a bearish shift to close the quarter.
Europe
The European Fumaric Acid market witnessed significant pricing movements throughout Q1 2025, shaped by shifting supply fundamentals, rising import costs, and evolving buyer behavior. In the first week of January, prices rose by 0.43% to $1180/MT CFR Hamburg. This early increase reflected the tightening of logistics between Asia and Europe, with elevated shipping rates and frequent blank sailings contributing to persistent delays. German buyers were compelled to accept higher costs from Chinese suppliers, marking a structural shift in traditional sourcing dynamics. Limited availability and strong offtake from the pharmaceutical and nutraceutical sectors further strengthened prices in early January.
By early February, prices had increased again, up 0.41% to $1210/MT CFR Hamburg. The price momentum was supported by sustained demand, especially in the food and pharmaceutical industries, alongside elevated procurement costs due to ongoing freight rate pressures. The gradual post-holiday recovery of Chinese supply chains also added to upstream price firmness. With steady consumption and tight supply, the market showed resilience, even as broader European manufacturing activity remained underwhelming.
However, by the first week of March, prices fell by 2.04%. The decline was driven by stabilized domestic production, better import availability, and easing logistics costs, including a nearly 50% drop in freight rates from January levels. The stronger euro further reduced import costs. Demand cooled as buyers relied on prior stockpiles and exercised caution due to political and economic uncertainty. As a result, sellers competed more aggressively, and market sentiment softened to close the quarter.
For the Quarter Ending December 2024
North America
The Fumaric Acid market in Q4 2024 exhibited notable volatility, driven by fluctuating supply-demand dynamics. Early in the quarter, prices surged due to increased demand from the pharmaceutical and nutraceutical sectors, limited supply, and disruptions from China’s Golden Week. However, as the quarter progressed, inventory levels increased, while demand from downstream industries softened, leading to price declines.
Market sentiment was also impacted by global supply chain challenges, including higher import costs due to a weakened US dollar, and rising freight rates. Toward the end of November, strong demand ahead of the festive season and supply constraints from China pushed prices upward again, creating a sellers' market.
In December, U.S. prices declined due to inventory adjustments by local suppliers and competitive pricing from Chinese imports, while stable downstream consumption supported steady demand. Despite increased U.S. imports and strategic pricing from suppliers, port congestion and ongoing tariff uncertainty added to market instability. By the end of December, prices dipped, reflecting a 2.01% decline as suppliers cleared excess stock, highlighting a shift in the market driven by pricing dynamics over demand fundamentals.
Asia Pacific
The Fumaric acid market in Q4 2024 experienced fluctuating prices influenced by supply-demand dynamics, economic conditions, and seasonal adjustments. Early October saw stability with prices maintaining levels from the previous period, aided by steady demand and temporary suspension of activities in China. However, as the quarter progressed, oversupply and weak consumer sentiment put downward pressure on prices.
Despite some price increases in mid-October, driven by strong export activity and raw material price adjustments, the market remained sensitive to supply chain challenges. By late October, prices dropped due to higher inventories and reduced purchasing power. In November, Fumaric acid prices initially rose, fueled by demand in export markets, especially India’s food preservative sector during the festival season. This uptick was short-lived, and by early December, prices fell again as supply-side pressures intensified, with excess inventory and weak demand dampening market sentiment.
Despite some recovery toward the end of December, driven by tight supply conditions and stronger demand, the overall trend in Q4 was marked by volatility, with prices fluctuating due to ongoing oversupply and seasonal influences.
Europe
The fourth quarter of 2024 in the German Fumaric Acid market has been characterized by fluctuating prices, primarily influenced by strong demand and persistent supply chain disruptions. Prices rose sharply early in the quarter due to increased procurement driven by anticipation of China’s Golden Week, logistics delays, and supply shortages.
These conditions were further exacerbated by rising import costs, currency fluctuations, and limited shipping availability. By mid-November, prices began to decline slightly as demand softened, and production costs decreased, aligning with a broader global market downturn. However, the market remained sensitive to disruptions, including fluctuating import costs and global economic trends, keeping the market tight.
Toward the end of December, prices stabilized with slight increases, driven by continued procurement activity and higher demand from downstream industries. The market's overall trend was bearish for much of the quarter, characterized by cautious trading and soft demand, with occasional upticks linked to supply tightness. The outlook for the German Fumaric Acid market in Q4 remained cautious, driven by economic uncertainty and reduced consumption.
