On August 12, various segments of the domestic chlor-alkali industry chain demonstrated a divergent, range-bound operational trend. Influenced by regional plant turnarounds, downstream procurement paces, and raw material cost fluctuations, supply-demand negotiations across products remained evident, with market participants mostly maintaining a cautious wait-and-see stance.

I. Caustic Soda & Flake Caustic Soda: Liquid Soda Adjusts Regionally; Flake Soda Holds Steady

• Liquid Caustic Soda: The liquid caustic soda market operated smoothly overall today. Spot supply in North China remained manageable, with individual facilities in Shandong under maintenance shutdowns while downstream procurement kept a slow pace. Alumina refineries in Shanxi maintained steady receipt of shipments, keeping supply pressure on caustic soda plants relatively low. Terminal buyers in East and Northeast China maintained hand-to-mouth purchasing, leading to a calm trading atmosphere. In Henan (Central China), planned maintenance at select facilities raised expectations of tighter supply, but with contract prices for alumina remaining unconfirmed, market participants preferred to wait and see. Producers in South China actively shipped out cargo, with market sentiment remaining stable.

• Flake Caustic Soda: Flake caustic soda producers focused on actively taking new orders, with new price quotes holding firm for the week. Terminal demand remains weak, and buyers are taking a cautious approach, showing limited acceptance of higher-priced offers. Some traders exercised flexible pricing, allowing lower-priced spots to flow smoothly into the market. Given limited profit margins for producers and ongoing or upcoming maintenance schedules at select plants, manufacturers showed a strong intention to hold prices firm, keeping the overall market running steadily.

II. Liquid Chlorine & Hydrochloric Acid: Liquid Chlorine Gains Locally; Hydrochloric Acid Consolidates

• Liquid Chlorine: The liquid chlorine market experienced a minor upward trend. Following previous low-priced shipments that relieved inventory pressure, producers in Shandong raised quotes by 50–100 RMB/ton. However, higher prices prompted resistance from downstream propylene oxide and phosphorus trichloride manufacturers, leading to a pull-back in receiving volumes. In Inner Mongolia, plant turnarounds combined with improved downstream demand accelerated factory shipments. Driven by price increases in neighboring regions, transaction centers in northern Jiangsu shifted slightly upward, while producers in Hubei maintained steady shipments.

• Hydrochloric Acid: The hydrochloric acid market maintained a consolidated trend overall. Ample supply in Shandong and a lack of cost support combined with sluggish downstream demand to slow factory shipments, keeping prices soft. Chlor-alkali facilities in Shanxi operated normally; under inventory pressure, producers offered price concessions to facilitate orders. Maintenance at select plants in Anhui tightened local supply slightly, while operational flexibility remained high in Sichuan amid tighter spot availability. Mainstream quotes for 31% synthetic acid hovered between 150 and 250 RMB/ton.

III. Upstream Raw Materials: Industrial Salt Runs Steady; Calcium Carbide Eases Locally

• Industrial Salt: Industrial salt spot prices held firm, with the national average ex-factory price (tax inclusive) standing around 226 RMB/ton. In well and rock salt, production cuts at select plants in Northwest and Southwest China led to a minor drop in output; however, ample inventories at salt producers minimized the impact on market supply, allowing companies to ship actively. In sea salt, market supply remained loose, with terminal buyers taking cargo at a steady pace and transaction volumes holding at routine levels.

• Calcium Carbide: The domestic calcium carbide market continued to ease. Ex-factory quotes in Wuhai, Ningxia held steady in a wait-and-see posture, with mainstream prices hovering around 2,350 RMB/ton, while delivery prices in Shandong and Hebei followed downward. Off-peak production continued in Inner Mongolia, with most enterprises shipping smoothly and showing an intention to hold prices firm. Due to varying delivery volumes among downstream buyers across regions, market prices adjusted flexibly, requiring close monitoring of future operating rates.

IV. Downstream PVC: Carbide-Process PVC Edges Upward; Ethylene-Process PVC Stays in Standoff

• Carbide-Process PVC: Supported by stronger futures momentum and international environment dynamics, price centers for carbide-process PVC shifted slightly higher. Production enterprises kept quotes mostly stable, while the overall industry operating load remained steady. However, downstream factory operating rates stayed low, keeping procurement strictly focused on essential replenishment and resulting in quiet trading activity. Today's spot prices for carbide-process PVC in East and South China are expected to fluctuate within the range of 4,400–4,650 RMB/ton (tax-inclusive, self-pickup).

• Ethylene-Process PVC: The ethylene-process PVC market continued to move in a standoff, with mainstream transaction prices seeing limited change. Weak supply-demand fundamentals lacked upward momentum; nevertheless, high-level fluctuations in upstream ethylene costs provided baseline support. Producers maintained steady quotes, traders priced in line with market conditions, and terminal buyers remained cautious. Today's delivered prices for ethylene-process PVC in East and South China are expected to fluctuate within the range of 4,870–5,250 RMB/ton (tax- and freight-inclusive).