As of March 5, 2026, the inventory of fixed liquid caustic soda in sample enterprises with a capacity of 200,000 tons or more nationwide reached 555,700 tons (wet ton), marking a month-on-month increase of 2.73% and a year-on-year rise of 15.54%. The rise in inventory indicates heightened supply-side pressure and relatively weak demand, which may exert downward pressure on spot prices. In the futures market, the main caustic soda contract 2605 on the Zhengzhou Commodity Exchange (data as of March 4, 2026) closed at 2,096 yuan per ton, with a settlement price of 2,125 yuan per ton, having recently increased by 25 yuan. However, the accumulation of inventory is likely to restrain future price increases, creating downward pressure on futures prices.