Ruida Futures(SZ:002961) Jin Tou Wang·2025-12-05 06:03Core Viewpoint - The caustic soda futures market is experiencing a downward trend, with the main contract down by 1.91% to 2105.0 CNY/ton as of December 5 [1] Inventory and Production - As of December 4, caustic soda enterprise inventory reached 504,800 tons, an increase of 35,000 tons or 7.45% from the previous week; over the past month, inventory has accumulated an increase of 90,000 tons, representing a 21.70% rise [2] - The inventory of fixed liquid caustic soda in sample enterprises with a capacity of 200,000 tons or more reached 504,800 tons (wet tons), reflecting a month-on-month increase of 7.43% and a year-on-year increase of 79.32% [2] Market Position and Trading - As of December 4, the top 20 futures companies in caustic soda held a total of 196,700 long positions and 227,900 short positions, resulting in a long-to-short ratio of 0.86; the net position was -31,200 contracts, an increase of 2,954 contracts compared to the previous day [2] Industry Insights - According to Ruida Futures, production load in North, Central, and East China has increased, with the average capacity utilization rate for caustic soda rising; however, downstream demand remains weak, leading to high inventory levels compared to previous years [4] - Guotou Anxin Futures indicates that the caustic soda market continues to face downward pressure due to high inventory levels and insufficient downstream demand, although there is still some profit in the chlor-alkali sector [4]