April 14th — At the 26th meeting of the 9th Board of Directors held on April 13th, Tianyuan Co., Ltd. reviewed and approved the "Proposal on Subsidiary Investing in the Construction of a Waste Salt Comprehensive Utilization Project Coupled with the Production of 200,000 Tons/Year of Ion-Exchange Membrane Caustic Soda." The total investment for this project amounts to 931 million yuan, with a construction period of 24 months and an investment payback period of 6.32 years (after tax, including the construction period).

Chempricehub Analysis on Caustic Soda, Bull-Bear Score: -1.5
Tianyuan Co., Ltd.'s subsidiary plans to invest 931 million yuan in constructing a 200,000-ton/year ion-exchange membrane caustic soda project, with a construction period of 24 months and an investment payback period of 6.32 years. This project will significantly increase the supply of caustic soda in the market. Without a corresponding growth in demand, it is expected to exacerbate the oversupply situation, exerting downward pressure on spot prices.

Combined with caustic soda futures data from the Zhengzhou Commodity Exchange—such as the settlement price of the 2607 contract at 2,111 yuan/ton (down 47 yuan) and the 2605 contract at 2,031 yuan/ton (down 48 yuan)—the market has already shown signs of weakness. Changes in trading volume and open interest indicate a strengthening bearish sentiment. The news of this additional production capacity may further depress futures prices. Therefore, the score is -1.5, indicating a bearish impact between moderate and significant.