50% of selling price expectations remain bearish, while 32% see localized increases (2026-09-07).

1. Today's Summary

• On September 7, 2026, Shandong chlor-alkali cash flow stood at 13 CNY/ton.
• Shandong liquid chlorine prices are expected to remain stable-to-weak tomorrow.

2. Spot Market Overview
   Table 1: Summary of Domestic Liquid Caustic Soda Prices (Unit: CNY/ton)

Today, the mainstream average price of 32% caustic soda in Shandong was 627 CNY/ton, up 1 CNY/ton from the previous trading day. Over the weekend and into the new week, price centers in western and southwestern Shandong moved moderately upward, southern Shandong saw a modest catch-up increase, and other regions remained broadly stable. The price center for 50% liquid caustic soda continued to decline. Currently, the mainstream local negotiated range for 32% ion-exchange membrane caustic soda in southwestern Shandong is 635–660 CNY/ton, with isolated high-end deals at 675; in southern Shandong, the mainstream spot-cash range for 32% is 640–650; in western Shandong, 650–660; and in northern Shandong, the mainstream is 585–655. Prices for 50% ion-exchange membrane caustic soda in Shandong are concentrated at 970–1,000, with warrant prices mainly at 970. (Unit: CNY/ton)

3. Futures-Spot Basis
   On September 7, the main caustic soda futures contract closed at 1,948, up 14 from the previous session. The Shandong 32% basis was 8; the Shandong 50% basis was 12. (Unit: CNY/ton)

4. Production Dynamics
   Today, Shandong chlor-alkali cash flow was 13 CNY/ton, down 76.36% from the previous day, and the chlor-alkali operating rate in Shandong edged up slightly.

5. Price Forecast
   After the recent decline in the price center for 50% caustic soda in Shandong, trading remains subdued. Under inventory pressure, some supply may still move lower. For 32% liquid caustic soda, near-term inventories and shipments are under no pressure, and most supply is likely to continue consolidating at stable levels.

6. Related Product Conditions
   Liquid chlorine: Over the weekend, some downstream buyers reduced purchases due to profit losses, increasing pressure on producers and leading to price cuts. Currently, liquid chlorine prices are 150–200 CNY/ton in northern Shandong, 100–150 in southern and southwestern Shandong, and 150–200 in the Jiaodong Peninsula region. (Unit: CNY/ton)