On January 5, Hualu Hengsheng (Jingzhou) Co., Ltd. reduced the operating rate of its 200,000-ton formic acid plant by 25%. PriceSeek's analysis of formic acid, with a long-short rating: 1. The 25% reduction in the operating rate of Hualu Hengsheng (Jingzhou) Co., Ltd.'s 200,000-ton formic acid plant is expected to decrease formic acid supply by approximately 50,000 tons. The tightening supply may drive up spot prices, reflecting favorable market dynamics of supply-demand tightening. Given that the reduction is not a complete shutdown, the impact is considered moderate, thus rating +1.0 points (generally favorable).