In November 2025, China's solid caustic soda export volume reached 64,129.13 tons, marking a month-on-month increase of 12.55% and a significant year-on-year surge of 53.48%, indicating robust international demand. The export average price stood at $529.16 per ton, remaining essentially flat month-on-month (0.0001%) while rising 8.98% year-on-year, reflecting solid price support. This data is favorable for spot prices of caustic soda, as the surge in export demand may intensify market supply-demand tightness, driving up spot prices. For the futures market, considering recent contract trends (e.g., the closing price of the January 2026 main contract 2605 at 2,379 yuan per ton), although some contracts experienced short-term declines, the anticipated growth in fundamental demand is expected to support a rebound in futures prices. The long-short score of 1.5 indicates a generally favorable and moderately bullish outlook.