Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - SH2601 rose 1.80% to close at 2,655 yuan/ton. On the supply side, last week, there were both shutdown and restarted plants in China, and the caustic soda capacity utilization rate decreased by 1.0% week-on-week to 84.1%. On the demand side, last week, the alumina operating rate decreased by 0.09% week-on-week to 85.64%; the viscose staple fiber operating rate increased by 1.07% week-on-week to 86.04%, and the printing and dyeing operating rate increased by 2.19% week-on-week to 61.46%. In terms of inventory, last week, the liquid caustic soda factory inventory decreased by 5.18% week-on-week to 437,800 tons. This week, the number of maintenance plants in Shandong and other places will further increase, and the caustic soda capacity utilization rate is expected to further decline. Currently, the alumina industry has considerable profits, and there is no planned production cut, and the plants are expected to operate stably. The peak season for non-aluminum downstream industries is approaching, but the current rigid demand is still weak, waiting for signals of demand improvement. The inventory pressure of liquid caustic soda in Shandong is not large. Technically, SH2601 should pay attention to the support around 2,530 and the resistance around 2,700 [3] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main caustic soda contract was 2,655 yuan/ton, up 57 yuan; the position of the main caustic soda contract was 78,794 lots, up 14,720 lots; the net position of the top 20 futures contracts for caustic soda was -2,221 lots, up 11,389 lots; the trading volume of the main caustic soda contract was 351,729 lots, up 141,371 lots; the closing price of the caustic soda contract for January was 2,655 yuan/ton, up 57 yuan; the closing price of the caustic soda contract for May was 2,731 yuan/ton, up 37 yuan [3] 3.2 Spot Market - The price of 32% ion-exchange membrane caustic soda in Shandong was 840 yuan/ton, unchanged; the price in Jiangsu was 900 yuan/ton, up 10 yuan; the converted price of 32% caustic soda in Shandong was 2,625 yuan/ton, unchanged; the basis of caustic soda was 27 yuan, down 31 yuan [3] 3.3 Upstream Situation - The mainstream price of raw salt in Shandong was 210 yuan/ton, unchanged; the mainstream price in the Northwest was 210 yuan/ton, unchanged; the price of steam coal was 643 yuan/ton, unchanged [3] 3.4 Industry Situation - The mainstream price of liquid chlorine in Shandong was -250 yuan/ton, up 50 yuan; the mainstream price in Jiangsu was -225 yuan/ton, up 25 yuan [3] 3.5 Downstream Situation - The spot price of viscose staple fiber was 13,040 yuan/ton, unchanged; the spot price of alumina was 3,210 yuan/ton, down 5 yuan [3] 3.6 Industry News - From August 8th to 14th, the average capacity utilization rate of Chinese caustic soda sample enterprises with a capacity of 200,000 tons and above was 84.1%, a week-on-week decrease of 1.0%. As of August 14th, the inventory of fixed liquid caustic soda sample enterprises with a capacity of 200,000 tons and above in China was 437,800 tons (wet tons), a week-on-week decrease of 5.18% and a year-on-year increase of 18.61% [3]

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The caustic soda main contract switched to the 01 contract. SH2601 fell 1.85% to close at 2,598 yuan/ton. The capacity utilization rate of caustic soda decreased by 1.0% week-on-week to 84.1%. The alumina industry's profit is considerable and there is no planned production cut. Non-aluminum downstream peak season is approaching but the rigid demand is still weak. The liquid caustic soda inventory pressure in Shandong is not large. Technically, SH2601 should pay attention to the support around 2,530 and the pressure around 2,700 [3] 3. Summary by Relevant Catalogs 3.1 Futures Market - The main contract closing price of caustic soda was 2,598 yuan/ton, with a week-on-week increase of 31 yuan/ton; the main contract position was 64,074 lots, with a week-on-week increase of 21,262 lots; the net position of the top 20 futures was -13,610 lots, with a week-on-week increase of 22 lots; the main contract trading volume was 210,358 lots, with a week-on-week increase of 109,318 lots. The closing price of the January contract was 2,598 yuan/ton, with a week-on-week decrease of 37 yuan/ton; the closing price of the May contract was 2,694 yuan/ton, with a week-on-week decrease of 29 yuan/ton [3] 3.2 Spot Market - The price of 32% ion-exchange membrane caustic soda in Shandong was 840 yuan/ton, unchanged from the previous week; in Jiangsu, it was 890 yuan/ton, unchanged. The converted price of 32% caustic soda in Shandong was 2,625 yuan/ton, unchanged. The basis of caustic soda was 27 yuan/ton, with a week-on-week decrease of 31 yuan/ton [3] 3.3 Upstream Situation - The mainstream price of raw salt in Shandong was 210 yuan/ton, unchanged; in the Northwest, it was 210 yuan/ton, unchanged. The price of steam coal was 643 yuan/ton, unchanged [3] 3.4 Industry Situation - The mainstream price of liquid chlorine in Shandong was -300 yuan/ton, with a week-on-week decrease of 250.5 yuan/ton; in Jiangsu, it was -250 yuan/ton, with a week-on-week decrease of 150 yuan/ton [3] 3.5 Downstream Situation - The spot price of viscose staple fiber was 13,040 yuan/ton, unchanged. The spot price of alumina was 3,210 yuan/ton, with a week-on-week decrease of 5 yuan/ton [3] 3.6 Industry News - From August 8th to 14th, the average capacity utilization rate of China's caustic soda sample enterprises with a capacity of 200,000 tons and above was 84.1%, with a week-on-week decrease of 1.0%. As of August 14th, the factory inventory of fixed liquid caustic soda sample enterprises with a capacity of 200,000 tons and above in the country was 437,800 tons (wet tons), with a week-on-week decrease of 5.18% and a year-on-year increase of 18.61% [3] 3.7 Viewpoint Summary - Last week, the capacity utilization rate of caustic soda decreased by 1.0% week-on-week to 84.1%. The alumina start-up rate decreased by 0.09% week-on-week to 85.64%; the viscose staple fiber start-up rate increased by 1.07% week-on-week to 86.04%, and the printing and dyeing start-up rate increased by 2.19% week-on-week to 61.46%. The liquid caustic soda factory inventory decreased by 5.18% week-on-week to 437,800 tons. This week, the number of maintenance devices in Shandong and other places has further increased, and the caustic soda capacity utilization rate is expected to further decline. The alumina industry is expected to operate stably. Non-aluminum downstream peak season is approaching, but the current rigid demand is still weak. The liquid caustic soda inventory pressure in Shandong is not large [3]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The domestic caustic soda plant is still in the recovery phase, with few recent shutdown plans, and the capacity utilization rate is expected to maintain an upward trend. The expected production capacity to be put into operation from July to August is relatively high, and the medium - to - long - term supply pressure may increase. [3] - The price of downstream alumina has rebounded, driving an increase in the enthusiasm of enterprises for resuming production, and there is still some room for an increase in the alumina operating rate. The off - season for non - aluminum downstream industries continues, and demand is weak. [3] - In the short term, the supply - demand contradiction of caustic soda in the spot market is not significant, and the price is expected to fluctuate slightly. For futures, the daily K - line of SH2509 should pay attention to the support around 2470 and the resistance around 2700. [3][4] 3. Summary According to Relevant Catalogs 3.1 Futures Market - The closing price of the main caustic soda futures contract is 2613 yuan/ton, the contract closing prices of caustic soda for January and May are 2656 yuan/ton and 2717 yuan/ton respectively. The futures trading volume is 752433 lots, a decrease of 277186 lots compared with the previous period. The net position of the top 20 futures is - 15810 lots, a decrease of 12901 lots compared with the previous period. [3] 3.2 Spot Market - The prices of 32% ion - membrane caustic soda in Shandong and Jiangsu regions are 830 yuan/ton and 900 yuan/ton respectively, with no change compared with the previous period. The converted 100% caustic soda price in Shandong is 2593.75 yuan/ton, with no change. The basis of caustic soda is - 19 yuan/ton, an increase of 29 yuan/ton compared with the previous period. [3] 3.3 Upstream Situation - The mainstream prices of raw salt in Shandong and the Northwest are both 210 yuan/ton, with no change. The price of steam coal is 638 yuan/ton, with no change. [3] 3.4 Industry Situation - The mainstream prices of liquid chlorine in Shandong and Jiangsu are 100 yuan/ton and - 125 yuan/ton respectively, with an increase of 25 yuan/ton in Jiangsu compared with the previous period. [3] 3.5 Downstream Situation - The spot price of viscose staple fiber is 12980 yuan/ton, an increase of 40 yuan/ton compared with the previous period. The spot price of alumina is 3230 yuan/ton, an increase of 10 yuan/ton compared with the previous period. [3] 3.6 Industry News - The Political Bureau of the CPC Central Committee held a meeting on July 30, emphasizing the need for macro - policies to continue to exert force and expand high - level opening - up. [3] - Sino - US economic and trade talks were held in Stockholm from July 28 - 29, and both sides will continue to promote the 90 - day extension of the suspended tariffs. [3] - From July 18 - 24, the average capacity utilization rate of caustic soda sample enterprises with a capacity of 200,000 tons and above was 84.0%, a month - on - month increase of 1.4%. [3] - As of July 24, the inventory of fixed liquid caustic soda sample enterprises' factories was 408,400 tons (wet tons), a month - on - month increase of 6.38% and a year - on - year increase of 4.29%. [3] 3.7 Viewpoint Summary - The operating rate of alumina increased by 1.84% to 85.45% last week, with an average profit of 409.4 yuan/ton. The operating rate of viscose staple fiber increased by 0.42% to 84.97% last week, and the operating rate of printing and dyeing remained stable at 58.9%. [3] - The inventory of liquid caustic soda factories increased by 6.38% to 408,400 tons last week. [3]

Report Summary 1) Industry Investment Rating No information provided. 2) Core View - This week, caustic soda futures prices fluctuated and consolidated, while spot prices rose slightly in some areas. The supply shortage situation has been alleviated to some extent due to the resumption of production of previously overhauled plants. There is no significant boost from the demand side, and the off - season of non - aluminum demand continues. Traders and downstream users are resistant to high - priced caustic soda. It is expected that caustic soda prices may fluctuate weakly next week. Attention should be paid to the changes in the liquid chlorine subsidy price in North China and the operating rate of chlor - alkali enterprises in the future [10]. 3) Summary by Directory a) Futures Market - This week, the caustic soda futures price reached a high and then declined, with narrow fluctuations during the week. The closing price of the main contract was 2469 yuan/ton, a decrease of 1.08% from last week. The trading volume and open interest both decreased. The trading volume was [X] million lots, a decrease of [X] million lots from last week, and the open interest was [X] million lots, a decrease of [X] lots from last week [2][4][8]. b) Spot Market Analysis - **Supply**: As of July 17, 2025, the average capacity utilization rate of Chinese caustic soda sample enterprises with a capacity of 200,000 tons and above was 82.6%, a week - on - week increase of 2.2%. The capacity utilization rates in North China, East China, Northeast China, and South China increased to varying degrees, while that in Central China decreased due to the low price of liquid chlorine [4]. - **Inventory**: As of July 17, 2025, the inventory of fixed liquid caustic soda in enterprises with a capacity of 200,000 tons and above was 38.39 million tons, a week - on - week increase of 2.56% [4]. - **Non - aluminum Demand**: Some viscose staple fiber plants in Shandong restarted this week, increasing the capacity utilization rate. The comprehensive operating rate in the printing and dyeing industry in Jiangsu and Zhejiang remained unchanged [6]. c) Futures - Spot Combination Analysis - **Spot Market**: This week, the spot price of liquid caustic soda strengthened slightly in some areas, with price increases in North China and East China, and remained stable in other markets [8]. - **Futures Market**: This week, the caustic soda futures price reached a high and then declined, with narrow fluctuations during the week, and both trading volume and open interest decreased [8]. d) Associated Product Analysis - **Upstream Raw Materials**: The price of raw salt and electricity remained stable, and the production cost remained basically unchanged [8]. - **Downstream Products**: The recent start - up of alumina has increased, mainly to replenish previous long - term contracts. The overall spot market is tight, and some enterprises and traders are reluctant to sell at low prices. There is no significant change in non - aluminum downstream demand. The subsidy for the by - product liquid chlorine decreased this week, and the overall chlor - alkali profit increased [8].

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - SH2509 shows a volatile and slightly upward trend, closing at 2484 yuan/ton. The supply side has seen the return of previously减产 and shutdown facilities, with the caustic soda capacity utilization rate increasing by 2.2% to 82.6%. On the demand side, last week the alumina operating rate increased by 1.72% to 83.28%, and the average alumina profit is 300.3 yuan/ton. This week, the viscose staple fiber operating rate increased by 6.75% to 84.55%, and the printing and dyeing operating rate remained stable at 58.9%. In terms of inventory, this week the liquid caustic soda factory inventory increased by 2.56% to 38.39 tons, with little inventory pressure. The planned maintenance capacity of caustic soda in July has decreased. Recently, the downstream operating rate of liquid chlorine has increased, and the inverted price of liquid chlorine in Shandong has been alleviated, which has repaired the chlor-alkali profit, opening up the room for the increase of the caustic soda operating rate. The non-aluminum off-season demand is weak, and the downstream mainly purchases on a rigid basis. In the short term, SH2509 is expected to show a volatile trend, and the daily K-line should pay attention to the support around 2420 and the pressure around 2550 [3]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The main closing price of caustic soda is 2484 yuan/ton, with a month-on-month increase of 18; the futures holding volume is 247,813 lots, with a month-on-month decrease of 11,994; the net holding volume of the top 20 futures is -4,279 lots, with a month-on-month increase of 8,873; the futures trading volume is 489,252 lots, with a month-on-month decrease of 272,960. The closing price of the January contract is 2471 yuan/ton, with a month-on-month increase of 20; the closing price of the May contract is 2532 yuan/ton, with a month-on-month increase of 19 [3]. 3.2 Spot Market - The price of 32% ion-exchange membrane caustic soda in Shandong is 840 yuan/ton, with no change; in Jiangsu, it is 910 yuan/ton, with no change. The converted price of 32% caustic soda in Shandong is 2625 yuan/ton, with no change; the basis is 159 yuan/ton, with a month-on-month increase of 46 [3]. 3.3 Upstream Situation - The mainstream price of raw salt in Shandong is 210 yuan/ton, with no change; in the Northwest, it is 220 yuan/ton, with no change. The price of steam coal is 636 yuan/ton, with no change [3]. 3.4 Industry Situation - The mainstream price of liquid chlorine in Shandong is -350 yuan/ton, with a month-on-month decrease of 50; in Jiangsu, it is -75 yuan/ton, with a month-on-month decrease of 25.5 [3]. 3.5 Downstream Situation - The spot price of viscose staple fiber is 12,940 yuan/ton, with no change; the spot price of alumina is 3150 yuan/ton, with no change [3]. 3.6 Industry News - From July 11th to 17th, the average capacity utilization rate of Chinese caustic soda sample enterprises with a capacity of 200,000 tons and above was 82.7%, a month-on-month increase of 2.3%. As of July 17th, the factory inventory of fixed liquid caustic soda sample enterprises with a capacity of 200,000 tons and above nationwide was 383,900 tons (wet tons), a month-on-month increase of 2.56% and a year-on-year increase of 1.78% [3].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The expectation of weakening supply - demand has started to materialize, with the spot price of caustic soda falling. The main futures contract SH2509 is oscillating at a low level near the lower - cost range. In the short term, SH2509 is expected to show an oscillating trend, with the range estimated to be around 2220 - 2350 [7]. - In the medium - to - long term, there are many caustic soda production facilities scheduled to be put into operation from June to July, resulting in high supply pressure. The delivered volume of the main contract remains high, while the off - peak demand from non - aluminum sectors is weak, and there is resistance to high prices. Although the cost of self - supplied power plants has some support, the caustic soda spot price still has room to decline [7]. 3. Summary by Relevant Catalogs 3.1 Weekly Highlights Summary - **Price**: As of June 20, 2025, the SH2509 contract closed at 2256 yuan/ton, down 0.31% from last week's close. The converted 100% price of 32% liquid caustic soda in Shandong dropped to 2531 yuan/ton [7]. - **Fundamentals**: - **Supply**: The overall caustic soda capacity utilization rate increased by 0.3% to 81.2%, with some plants in central, northern, and northeastern China reducing their loads, and some in northwestern and eastern China restarting or increasing production [7]. - **Demand**: Alumina is still in the resumption phase. The operating rate of viscose staple fiber increased by 0.24% week - on - week to 80.80%, while the dyeing operating rate decreased by 0.64% to 60.73% [7]. - **Inventory**: The liquid caustic soda factory inventory decreased by 5.63% week - on - week to 36.56 tons, at a moderately high level compared to the same period [7]. - **Profit**: The chlor - alkali profit dropped to around 501 yuan/ton, still showing considerable profitability [7]. - **Outlook**: Next week, a 750,000 - ton plant of Dongying Huatai will undergo maintenance, and some plants are planned to restart, which may lead to a decline in capacity utilization. There is high supply pressure in the medium - to - long term. The futures contract is at a discount, with cost support below 2200, but there is a lack of positive drivers for a rebound [7]. 3.2 Futures and Spot Markets - **Futures Market**: The main caustic soda contract oscillated at a low level this week, and the position of the 09 contract remained basically stable [8]. - **Spot Market**: - **Prices**: The benchmark price of 32% liquid caustic soda in Shandong is 810 yuan, with a converted 100% price of 2531 yuan; in Henan, the market price is 928 yuan, with a converted 100% price of 2900 yuan; in Inner Mongolia, the market price is 912 yuan, with a converted 100% price of 2850 yuan. The ex - factory price of 99% flake caustic soda in Shandong is 3150 yuan/ton, and the price of liquid chlorine is - 25 yuan/ton [14][24][29][34]. - **Basis**: The spot price decline has narrowed the basis [19]. 3.3 Industry Situation - **Upstream**: - **Raw Salt**: The prices of raw salt in the northwest and Shandong remained stable [41]. - **Steam Coal**: The price of 5500K steam coal in Qinhuangdao remained stable at 609 yuan/ton [46]. - **Supply**: In May, the caustic soda production was 3.4642 million tons, a month - on - month increase of 1.13%. This week, the operating rate rose to 81.2% [49]. - **Demand**: - **Alumina**: In May, the alumina production was 7.6323 million tons, and the capacity utilization rate last week was 80.87% [55]. - **Non - Aluminum Downstream**: This week, the operating rate of viscose staple fiber was 80.8%. The prices of alumina and viscose staple fiber declined [59][62]. - **Import and Export**: - **Import**: In April, the caustic soda import was 900 tons; from January to April, the cumulative import was 2800 tons [68]. - **Export**: In April, the caustic soda export was 391,000 tons; from January to April, the cumulative export was 1.349 million tons [74]. - **Inventory**: The weekly sample inventory of liquid caustic soda was 365,600 tons, a week - on - week increase of 5.63% [79]. - **Profit**: The chlor - alkali profit in Shandong decreased but remained quite profitable [82]. 3.4 Option Market Analysis - The 20 - day historical volatility of caustic soda futures was reported at 20.97%. The implied volatility of at - the - money call and put options was around 23.15% [85].

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - The high profit of liquid caustic soda offsets the positive impact of concentrated maintenance within the month, and the commissioning of plants from June to July brings an expectation of intensified medium - and long - term supply pressure. The profit growth of downstream alumina slows down, the supply of raw material bauxite is tight, and some enterprises are cautious about increasing production. Non - aluminum demand has weak rigid demand and resists high prices. Currently, the inventory pressure is relatively high. The cost of thermal coal for self - supplied power plants lacks support in the short term. The weak expectation of caustic soda spot is being realized, and the spot price in Shandong has declined recently. The futures price is at a discount, with cost support below 2200, but there is a lack of positive drivers for a rebound. SH2509 is expected to show a volatile trend, with the range expected to be around 2230 - 2340 [1]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The main contract closing price of caustic soda is 2273 yuan/ton, down 3 yuan; the futures holding volume is 287,509 lots, up 459 lots; the net holding volume of the top 20 futures is - 23,570 lots, up 1591 lots; the futures trading volume is 444,883 lots, down 27,019 lots. The closing price of the January contract is 2260 yuan/ton, down 10 yuan; the closing price of the May contract is 2328 yuan/ton, down 1 yuan [1]. 3.2现货市场 - The price of 32% ion - membrane caustic soda in Shandong is 850 yuan/ton, down 20 yuan; in Jiangsu, it is 960 yuan/ton, unchanged. The converted 100% price of 32% caustic soda in Shandong is 2656.25 yuan/ton, down 62.5 yuan. The basis of caustic soda is 321 yuan/ton, down 59 yuan [1]. 3.3 Upstream Situation - The mainstream price of raw salt in Shandong is 210 yuan/ton, unchanged; in the Northwest, it is 220 yuan/ton, unchanged. The price of thermal coal is 650 yuan/ton, unchanged [1]. 3.4 Industrial Situation - The mainstream price of liquid chlorine in Shandong is - 150 yuan/ton, down 200.5 yuan; in Jiangsu, it is - 75 yuan/ton, down 25 yuan [1]. 3.5 Downstream Situation - The spot price of viscose staple fiber is 13,160 yuan/ton, unchanged; the spot price of alumina is 3190 yuan/ton, down 10 yuan [1]. 3.6 Industry News - From June 6th to 12th, the average capacity utilization rate of Chinese caustic soda sample enterprises with a capacity of 200,000 tons and above was 80.9%, a week - on - week decrease of 2.5%. As of June 12th, the factory inventory of fixed liquid caustic soda sample enterprises with a capacity of 200,000 tons and above nationwide was 405,300 tons (wet tons), a week - on - week increase of 6.07% and a year - on - year increase of 6.11% [1]. 3.7 Viewpoint Summary - The supply side: Multiple sets of devices in North China were shut down or reduced in load last week, and the industry capacity utilization rate decreased by 2.5% to 80.9%. The demand side: The alumina start - up rate increased by 0.52% to 80.87% last week; the viscose staple fiber start - up rate remained stable at 80.56%, and the printing and dyeing start - up rate decreased by 0.14% to 61.36%. The inventory of liquid caustic soda factories increased by 5.52% to 382,100 tons last week. The profit of chlor - alkali was around 613 yuan/ton last week, with considerable profitability [1].

Report Industry Investment Rating - Not provided Core View of the Report - The supply side saw a co - existence of maintenance and capacity increase in national chlor - alkali plants last week, with the capacity utilization rate dropping 1.6% to 82.3%. The demand side witnessed a decline in the domestic alumina start - up rate to 78.54%, a 5.39% drop in the viscose staple fiber start - up rate to 78.22%, and a 2.44% drop in the printing and dyeing start - up rate to 61.94%. The liquid caustic soda factory inventory decreased 10.84% to 42.02 tons last week. This week, the capacity utilization rate is expected to rise slightly due to the resumption of maintenance devices in North China. The caustic consumption of domestic alumina enterprises is expected to decline continuously as their production cuts become more concentrated. Non - aluminum enterprises' pre - May Day stocking drives a temporary improvement in supply - demand, but its sustainability is doubtful. In the medium - to - long - term, supply - demand has not improved, and there may be a continuous callback in future prices. The main contract of caustic soda is about to switch to the 09 contract, with support levels at around 2330 for SH2505 and 2420 for SH2509 [3]. Summary According to Relevant Catalogs Futures Market - The main closing price of caustic soda was 2430 yuan/ton, down 32 yuan; the futures holding volume was 212,082 lots, down 3,213 lots; the net holding volume of the top 20 futures was - 5,421 lots, down 1,793 lots; the futures trading volume was 520,056 lots, up 99,834 lots; the closing price of the January contract was 2478 yuan/ton, down 11 yuan; the closing price of the May contract was 2430 yuan/ton, down 32 yuan [3]. Spot Market - The price of 32% ion - membrane caustic soda in Shandong was 830 yuan/ton, up 10 yuan; in Jiangsu, it was 950 yuan/ton, unchanged. The converted - to - 100% price of 32% caustic soda in Shandong was 2594 yuan/ton, up 31 yuan; the basis of caustic soda was 164 yuan/ton, up 63 yuan [3]. Upstream Situation - The mainstream price of raw salt in Shandong was 240 yuan/ton, unchanged; in the Northwest, it was 220 yuan/ton, unchanged. The price of steam coal was 680 yuan/ton, unchanged [3]. Industry Situation - The mainstream price of liquid chlorine in Shandong was - 200 yuan/ton, unchanged; in Jiangsu, it was - 250 yuan/ton, up 25 yuan [3]. Downstream Situation - The spot price of viscose staple fiber was 13,480 yuan/ton, and the spot price of alumina was 2,840 yuan/ton, both unchanged [3]. Industry News - From April 11th to 17th, the average capacity utilization rate of Chinese caustic soda sample enterprises with a capacity of 200,000 tons and above was 82.3%, a 1.6% week - on - week decrease. As of April 17th, the inventory of fixed liquid caustic soda sample enterprises with a capacity of 200,000 tons and above was 420,200 tons (wet tons), a 10.84% week - on - week decrease and a 12.22% year - on - year decrease [3].