This week (20260102-0108), the average capacity utilization rate of caustic soda sample enterprises in China with a capacity of 200,000 tons and above was 86.8%, up 0.4% week-on-week. PriceSeek analysis of caustic soda, with a long-short score of -1: The average capacity utilization rate of caustic soda sample enterprises in China with a capacity of 200,000 tons and above was 86.8% this week, up 0.4% week-on-week, indicating an increase in supply-side capacity release. This may lead to oversupply in the spot market, exerting downward pressure on spot prices of caustic soda, with short-term spot prices expected to remain under pressure. Meanwhile, based on caustic soda futures market data, such as the settlement price of the main contract 2603 at 2,239 yuan/ton (up 8 yuan) and the settlement price of contract 2604 at 2,334 yuan/ton (up 21 yuan), recent futures prices have risen due to demand support. However, increased supply may curb future gains and raise the risk of a futures price correction. The overall score is moderately bearish at -1.0, as the incremental supply, though small, may exacerbate the market's looser balance.