According to the commodity market analysis system of Business Society, the domestic formic acid market has recently exhibited a sustained consolidation pattern. As of January 2nd, the benchmark price for 85% formic acid quoted by Business Society was 2,300 RMB/ton, remaining unchanged compared to the previous week (January 5th). However, it decreased by 20.96% month-on-month and 22.03% year-on-year. From the supply perspective, the current stable market situation originated from a tripartite meeting resolution prior to January 5th. Three key formic acid producers—in Liaocheng, Feicheng, and Jingzhou, Hubei—reached a consensus through negotiation to implement varying degrees of production cuts to support prices. Subsequent market performance indicates that while the production reduction measures did not immediately alter the overall loose supply situation, they effectively curbed the risk of price declines and conveyed a clear signal of price support. During this period, upstream enterprises maintained stable shipments. Although no significant volume increase was observed, normal sales rhythms were sustained, and inventory levels showed a moderate downward trend. On the demand side, performance exhibited phased characteristics. On January 6th, the market experienced noticeable downstream wait-and-see sentiment, with buyers primarily focusing on meeting rigid demand, leading to relatively subdued trading activity. However, as prices remained stable over an extended period, downstream enterprises gradually normalized their procurement pace. By January 12th, a stable purchasing pattern had formed on the demand side. Notably, on the 12th, the market saw minor concessions for large-volume terminal customers, but this localized adjustment did not disrupt the overall firmness of mainstream prices. In terms of costs, methanol—a key raw material for formic acid production—showed a fluctuating recovery trend in the same period. From January 4th to 9th, methanol quotations at East China ports rose from 2,245 RMB/ton to 2,265 RMB/ton. This moderate cost support also provided favorable conditions for formic acid producers to maintain prices. Considering both supply-demand dynamics and cost factors, the current formic acid market has established a balanced pattern characterized by "loose supply underpinned by production cuts, stable and orderly demand, and moderate cost support." Business Society's formic acid data analyst believes that, based on the stable performance on both supply and demand sides, producers' strong willingness to support prices, and the benign cycle of moderate inventory reduction, the domestic formic acid market is expected to continue its consolidation trend, with limited room for price fluctuations. Going forward, close attention should be paid to the sustained implementation of upstream production cuts and the pace of further demand release from downstream sectors.