On January 14, Shandong Luxi Chemical lowered the price of liquid caustic soda, with the quotation for 32% ion-exchange membrane caustic soda reduced to 660 yuan/ton, down by 10 yuan/ton compared to the previous trading day. The 400,000-ton/year chlor-alkali facility is operating normally. PriceSeek Analysis of Caustic Soda, Bull-Bear Score: -1 The article reports that Shandong Luxi Chemical’s quotation for 32% ion-exchange membrane caustic soda has been lowered to 660 yuan/ton, down by 10 yuan/ton compared to the previous trading day, while the 400,000-ton/year chlor-alkali facility is operating normally, indicating sufficient supply with no signs of shortage. This directly puts downward pressure on the spot price of caustic soda, reflecting market oversupply or weak demand. For caustic soda futures prices, the decline in spot prices will transmit to the futures market. Investors, anticipating stable future supply, may increase their willingness to sell contracts, thereby exacerbating the downside risk for futures prices. The overall score is -1, indicating a generally bearish sentiment, as the price reduction is relatively small (approximately 1.5%) and does not constitute a major event, but it clearly signals a negative trend.