February 2 News – On February 2, the trading atmosphere in the liquid caustic soda market in Xinjiang improved. The mainstream ex-factory price for 32% ion-exchange membrane caustic soda in the region was around 3,150 yuan/ton (on a 100% basis), with manufacturers primarily selling to downstream customers in surrounding areas. Chempricehub Analysis of Caustic Soda – Bull-Bear Score: 1.5 The article indicates that the trading atmosphere for liquid caustic soda (the liquid form of caustic soda) in Xinjiang has improved. The mainstream ex-factory price for 32% ion-exchange membrane caustic soda remains stable at 3,150 yuan/ton (on a 100% basis), suggesting increased local demand. Manufacturers are mainly selling to downstream customers in surrounding areas, which is favorable for spot prices and may drive short-term spot market gains. Combined with caustic soda futures data, such as the recent closing price of the 2605 contract at 2,201 yuan/ton (as of January 30, 2026), although there has been a slight decline, the recovery signal in the spot market may drive a rebound in futures prices. This is particularly true for major contracts with high open interest (e.g., the 2603 contract with an open interest of 202,033). Strengthened demand expectations support an upward trend in futures prices, leading to a relatively strong bullish score.