下游需求表现一般 烧碱震荡偏空思路对待

Group 1 - The domestic futures market for caustic soda is experiencing a downward trend, with the main contract opening at 2330.0 CNY/ton and a decline of 1.37% observed [1] - Current market conditions indicate an oversupply of caustic soda, with weak spot prices and a slight recovery in liquid chlorine prices, leading to strong downward pressure on caustic soda [1] - The electricity price trend is providing some support to caustic soda futures, but risks remain if liquid chlorine prices weaken, affecting the overall cost support for the chlor-alkali industry [1] Group 2 - The average national capacity utilization rate for caustic soda has significantly increased due to the restart of multiple production units across various regions [2] - Downstream demand from alumina remains stable, but low profit margins are expected to continue, suppressing inventory replenishment needs in the industry [2] - High operating rates and inventory levels, combined with weak demand, are putting continuous pressure on caustic soda prices [2]