Asia's liquid caustic soda activity gradually stopped the US market from continuing tension

September 24, 2023

Alkali prices in Asia have stabilized, and trading activities have gradually stopped years ago. No substantive progress has been made in negotiations between Northeast Asian companies and the West region, and buyers are holding more and more wait-and-see attitudes. China's low price of liquid caustic soda is still 250-255 US dollars / dry ton FOB, manufacturers to lower prices before the holiday clearance. Due to the increase in inventories, the offer price in India fell by US$10-15/dry to US$320/dry ton CFR. Prices in Japan and Taiwan remained at the previous level of 270-280 U.S. dollars per dry ton FOB, and the volume of local products remained limited. At this moment, production companies and traders have reached a consensus that the arrival of China's Spring Festival holiday will undoubtedly bring some impact on the caustic soda circulation market in Asia. At present, overseas demand is insufficient.

The US caustic soda market continued to be tense, production of diaphragm caustic soda was eased, and supply of ion-exchange membrane caustic soda rose. The local export price is 300 US dollars/metric ton (about 231 GBP/metric ton), among which the contract price for the bulk transaction to Mexico is 300 US$/metric ton FOB, and the specific quantity is unknown. About 8,000 metric tons of caustic soda were sold to Mexico in the early stage and 2,000 metric tons of caustic soda was sold to Brazil. There has been no significant change in the caustic soda market in the United States. The contract price stabilized in February, but buyers are still resistant to the increase in prices from December to January last year. U.S. producers have successfully increased the price of liquid caustic soda by 20-40 U.S. dollars per short ton. The price of high-concentration caustic soda has also risen by 40 U.S. dollars per short ton, among which membrane-base users account for about half, and high-end offers have fallen by 10 U.S. dollars per short ton.

European producers were disappointed with the first-quarter contract negotiations, and the contract price was slightly upwards by £65/dmt. With the increase in the volume of liquid caustic soda, buyers have to compromise on contract negotiations in early February in order to avoid price increases in the first quarter. Buyers believe that the upward price range of 30-65 pounds/dry ton is difficult to accept, and the manufacturer’s proposal of a rise of 15 pounds per dry ton is easily rejected. Some buyers also fell 0.5 pounds per dry ton in contract prices in the first quarter. Market participants predict that the price of caustic soda will drop by 20 pounds per dry ton in March. Overall, the supply and demand balance in the European caustic soda market.

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