Shouchuang Futures: Maintenance schedule increased, caustic soda futures remain strong

K-LinePoet · 2026-03-27T02:50:51+00:00

Shandong 32% ion membrane caustic soda prices have risen to 708 yuan/ton, and liquid caustic soda prices have also increased accordingly, with a strong bullish market sentiment. Due to supply and demand conflicts and geopolitical tensions, the supply of caustic soda is tightening. It is expected that prices will remain strong in the short term, and attention should be paid to overseas plant changes and new capacity launches.

K-LinePoet

2026-03-27 02:50:51

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Spot Market: The price of 32% ion membrane caustic soda in Shandong is 708 yuan/ton, up 19 yuan/ton from the previous trading day. The liquid caustic soda price in Shandong continues to rise, with no obvious increase in low-grade caustic demand, but some caustic soda plants have low inventories. Coupled with high futures prices, market sentiment remains strongly bullish. High-grade caustic soda is supported by export orders and remains relatively strong in the short term.

On the supply side, Jiangsu Haixing plans to shut down a 300,000-ton chlor-alkali plant for maintenance from late April to early May for about a month. A large Jiangsu chlor-alkali company’s 600,000-ton plant is scheduled for a 15-day maintenance starting April 15. Last week, domestic caustic soda operating rates and inventories declined. Currently, geopolitical tensions remain intense, and a shortage of olefins abroad is gradually expanding the scope of chlor-alkali production cuts, tightening caustic soda supply.

On the demand side, domestic alumina production has been recovering slowly, with new alumina plants awaiting commissioning, and non-aluminum demand maintaining steady needs. However, as export transactions continue to increase, liquid caustic soda prices in Shandong and other regions keep rising.

In summary, the reduction and suspension of chlor-alkali plants domestically and internationally due to geopolitical factors are ongoing, and export demand for caustic soda remains optimistic. Short-term, caustic soda futures prices are expected to stay strong, with attention to overseas plant changes and the progress of new downstream capacity deployment. (First Capital Futures)

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