April 22 (Reuters) - On April 22, Hualu Hengsheng lowered the ex-factory price of 85% formic acid to 2,800 yuan per ton, down 200 yuan per ton from the previous day. Chempricehub's analysis of formic acid shows a bearish score of -1.5. As a major producer, Hualu Hengsheng's reduction of the ex-factory price for 85% formic acid by 200 yuan per ton to 2,800 yuan per ton, a decrease of approximately 6.67%, reflects ample market supply or weak demand, exerting significant downward pressure on the spot price of formic acid. This adjustment may prompt other producers to follow suit with price cuts, intensifying the downward trend in the spot market and hindering short-term price recovery.