Sulfuric acid prices rose sharply through the first half of 2026 before retreating from their mid-year peak as supply conditions loosened. Weak downstream demand has contributed to the easing, though the commodity remains a critical revenue buffer for copper smelters facing squeezed processing margins. The price trajectory reflects the interplay between by-product supply dynamics and broader industrial demand.
China's 98% smelting sulfuric acid price eased over the week as spot trading weakened and recovering supply added pressure. Elevated sulfur and metal ore costs provided partial support, but the market faces further downside as lower-priced regional supplies increase competitive pressure.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Formic Acid | China | FOB | USD 342.16/MT | July 2026 |
| Formic Acid | India | CIF | USD 449.16/MT | July 2026 |
| Formic Acid | USA | CIF | USD 529.16/MT | July 2026 |
| Formic Acid | Germany | CIF | USD 476.16/MT | July 2026 |
| Formic Acid | Canada | CIF | USD 539.16/MT | July 2026 |
| Formic Acid | China | FOB | USD 374.76/MT | June 2026 |
| Formic Acid | India | CIF | USD 462.76/MT | June 2026 |
| Formic Acid | USA | CIF | USD 529.76/MT | June 2026 |
| Formic Acid | Germany | CIF | USD 495.76/MT | June 2026 |
| Formic Acid | Canada | CIF | USD 529.76/MT | June 2026 |
Stay updated with the latest Formic Acid prices, historical data, and tailored regional analysis
Asia
In the Chinese markets, monthly average prices of formic acid were about USD 375/MT in June (FOB). For India, the commodity averaged around USD 463/MT during June (CIF). Asian formic acid prices declined during Q2 2026. Supply remained ample in the initial part of the quarter, while buyers avoided restocking because essential demand was weak. Maintenance at major units briefly tightened supply and supported a recovery during May. However, high inventories and cautious demand limited the price rise. In June, the slight decline in prices. Low operating rates in leather, pharmaceutical, pesticide and rubber production further reduced consumption during the seasonal lull. Competition for limited orders then pushed the market sharply lower by quarter-end.
Europe
Across the German market, Formic Acid was assessed near USD 496/MT for June (CIF). European formic acid price trend witnessed a fluctuating trajectory during the quarter. Euro-area industrial producer prices increased 0.6% month on month in April, while intermediate-goods prices rose 1.8%, showing higher costs across chemical chains. Middle East disruption lifted petrochemical, energy and logistics expenses. Stronger methanol contracts also raised costs for plants using the methyl-formate route for manufacturing. However, weak consumption prevented producers from passing through the full increase.
North America
In the USA, monthly average prices came in at roughly USD 530/MT in June (CIF). North American formic acid prices likely stayed firm during early and mid-Q2. Formic acid prices in North America remained stable, oscillating in a narrow range in Q2'26. The price increase for US basic organic chemicals was 6.1% in April and 9.0% in May due to higher costs of production amid the logistical disruptions. Increases in methanol, fuel, electricity, and transport costs helped support offers, while purchasers resisted the price increase and showed need-based buying patterns.
Analyst Insight
According to Procurement Resource, Asian prices may remain soft until producer inventories decline. European and North American markets should stay firm, though weak downstream procurement will restrict further increases.
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Asia
The Asian Formic Acid market recovered gradually during Q1’26 after a softer start to the quarter. In China, rising methanol costs, tighter producer inventories, and lower operating rates supported firmer pricing toward March. Demand from leather, textile, feed preservative, and rubber industries improved steadily, while export inquiries from Southeast Asia and India remained active. In India, higher import costs and elevated freight charges due to shipping disruptions through the Strait of Hormuz further strengthened market sentiment.
Europe
European Formic Acid prices remained elevated during Q1’26 due to high energy costs, expensive imports, and logistical disruptions. Weak manufacturing and textile demand limited strong spot buying initially, but rising freight charges and shipping uncertainty linked to the Iran conflict increased replacement costs. Higher methanol and natural gas prices also pressured regional producers, while delayed cargo movements kept supply conditions tight.
North America
North American Formic Acid prices followed a mixed-to-firm trend during Q1’26, supported by higher methanol costs and elevated transportation expenses. Demand from agriculture, de-icing chemicals, and rubber processing remained stable, although sufficient inventories prevented sharper price increases. Global shipping disruptions and rising crude oil prices further increased import and logistics costs across the regional chemical sector.
Formic acid is a colourless liquid with a pungent odour. It is corrosive in nature and miscible in water. It has its application in the dyeing and tanning industries and is also used as a reducing agent.
CH2O2
Pharmaceuticals, food additives, pesticides, textile industry, tanning, leather industry
Methanoic acid
BASF SE, Feicheng Acid Chemicals Co. Ltd, Taminco Corporation, Perstorp AB
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Formic acid is produced by the direct hydrolyzation of carbon monoxide or reacting with alcohol. The obtained formic acid then goes through distillation to give crude formic acid.
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