April 16th — On April 16th, Luxi Chemical set the ex-factory price for 85% formic acid at 3,000 yuan per ton, a decrease of 100 yuan per ton compared to the previous day. Chempricehub’s analysis of formic acid gives a long-short score of -2. Luxi Chemical lowered the ex-factory price for 85% formic acid by 100 yuan per ton to 3,000 yuan per ton, a reduction of approximately 3.3%, reflecting oversupply or weak demand in the market and exerting significant downward pressure on the spot price of formic acid. This price cut may stem from increased inventory or reduced downstream procurement, and it is expected that the spot market will continue to show weakness in the short term.