On January 6, the delivered price of 32% liquid caustic soda to Xiaoshao in the Zhejiang market was around 980–1,020 yuan/ton, while 48% ion-exchange membrane caustic soda was priced at 1,450–1,550 yuan/ton. Downstream demand showed no significant positive signals. PriceSeek’s analysis of caustic soda indicates a bearish score of -1.5. The article highlights that spot prices for 32% liquid caustic soda in Zhejiang range from 980 to 1,020 yuan/ton, and 48% ion-exchange membrane caustic soda from 1,450 to 1,550 yuan/ton, with weak downstream demand. This suggests ample spot market supply but sluggish demand, which may lead to further declines in spot prices. In the futures market, considering recent caustic soda futures data (e.g., the settlement price of the main contract 2603 on January 5, 2026, was 2,170 yuan/ton, down 80 yuan for the day), insufficient demand could exacerbate the downward trend in futures prices, reflecting an overall bearish market sentiment. The score of -1.5 is attributed to weak demand significantly weighing on prices, though it does not reach the level of a major event.