Core Insights - In the first five months of 2025, the production of caustic soda (calculated at 100%) in Shanghai reached 317,000 tons, representing a decline of 3.4% compared to the same period in 2024, with a growth rate 3.9 percentage points lower than 2024 and 7.4 percentage points lower than the national average [1] - In May 2025 alone, the production of caustic soda in Shanghai was 42,000 tons, a significant decrease of 24.0% year-on-year, with a growth rate 6.2 percentage points lower than 2024 and 26.3 percentage points lower than the national average [2] Production Analysis - The cumulative production of caustic soda in Shanghai for the first five months accounted for 1.7% of the national total production of 18.697 million tons [1] - In May 2025, Shanghai's production represented 1.1% of the national total production of 3.791 million tons [2]