The price of Calcium Formate in China decreased by approximately 11.1% during the first quarter of 2024. There was an adequate supply of Calcium Formate available in the market, but overall demand was sluggish due to the impact of the real estate sector. Additionally, the Lunar New Year holiday in China typically results in a slowdown in economic activity, which contributed to reduced demand for industrial chemicals.
Calcium Formate prices continued to decrease, by 3.7% from Q1 to Q2 2024 due to a combination of factors. Persistent weak demand, primarily driven by the ongoing slowdown in the real estate sector, coupled with increased supply from expanded production capacity, contributed to lower prices. Intense competition among manufacturers, inventory management strategies, and potential geopolitical influences also played a role in the price decline.
For Q3 2024, Given the current market dynamics, Calcium Formate prices are expected to remain under pressure in Q3 2024. The extent of the decline will depend on factors such as the performance of the real estate sector, overall economic conditions, supply chain dynamics, and government policies. However, a slight price increase is possible if there’s a significant increase in demand coupled with supply constraints during the end of the quarter.
In Q4 2024, Calcium Formate prices could increase due to increased demand driven by economic recovery or new applications, supply constraints caused by production disruptions or regulatory changes, rising raw material costs, geopolitical factors, and increased energy costs. However, the overall market dynamics for Calcium Formate remain challenging, and significant price increases would likely require a combination of these factors to converge favourably for producers.