February 10th News — On February 10th, the trading atmosphere in the liquid caustic soda market in Xinjiang showed signs of improvement. The mainstream ex-factory price for 32% ion-exchange membrane caustic soda is approximately 3,150 yuan/ton (on a 100% basis), while for 50% ion-exchange membrane caustic soda, it is around 3,250 yuan/ton (on a 100% basis). Manufacturers primarily sell to downstream customers in surrounding regions. Chempricehub Analysis of Caustic Soda, Bull-Bear Score: +1 The article reports an improved trading atmosphere in the Xinjiang liquid caustic soda market, with mainstream ex-factory prices of 3,150 yuan/ton (100% basis) for 32% ion-exchange membrane caustic soda and 3,250 yuan/ton (100% basis) for 50% ion-exchange membrane caustic soda. Manufacturers mainly sell to downstream customers in surrounding areas, indicating an improvement in demand and providing support for spot prices. Combined with caustic soda futures data, such as the settlement price of the main contract SH2605 on February 9, 2026, at 2,105 yuan/ton, spot prices are higher than futures prices, resulting in a positive basis. This positive market sentiment may support a rebound in futures prices, but attention should be paid to the subsequent supply-demand balance. Overall, the outlook is favorable, rated as moderately bullish (+1).