Caustic soda futures fell 3.89% on 22 October 2026, settling at 1,632 yuan a tonne, while styrene rose 2.18% to 10,540 yuan and methanol rose 1.35% to 3,152 yuan on the same SunSirs board. Sodium hydroxide was the second-largest fall logged there, behind only apple futures. The caustic soda price in that print is the settlement. SH2701 closed at 1,610 yuan, and the 32% spot quote held at 627.
The 66-yuan step is the figure on the SunSirs daily futures board, and it matches the 生意社 sheet: close 1,610 yuan, settlement 1,632. Close to close, SH2701 fell from 1,682 yuan on 21 October to 1,610. Volume was 679,114 lots, against 277,082 the session before, and open interest rose from 304,176 contracts to 323,000.
Three sessions, then the break
SH2701 settled at 1,723 yuan on 20 October and 1,698 on 21 October, while open interest rose from 280,658 contracts to 304,176. On 22 October the settlement fell another 66 yuan, volume more than doubled, and open interest rose by 18,824. The SunSirs dominant-contract column, matching the closes, had printed 1,746 yuan on 15 October and 1,737 on 19 October.
| Date | SH2701 close | Settlement | Change | Volume | Open interest |
|---|---|---|---|---|---|
| 20 Oct 2026 | 1,707 | 1,723 | +1 | 295,728 | 280,658 |
| 21 Oct 2026 | 1,682 | 1,698 | -25 | 277,082 | 304,176 |
| 22 Oct 2026 | 1,610 | 1,632 | -66 | 679,114 | 323,000 |
Prices in the table are yuan a tonne, volume is lots and open interest is contracts, from the 生意社 Zhengzhou sheet read on 23 October 2026. SunSirs calls the last row a 3.89% fall.
The spot quote barely moved
The SunSirs spot series for 32% ion-membrane caustic soda went from 631 yuan a tonne on 17 October to 627 on 22 and 23 October, while the futures close fell from 1,746 on 15 October to 1,610. Either SH2701 overshot a calm liquid market, or the assessment lags offers already under 627. A Sina Finance note from 财信期货研究 put a separate 32% average at 600 yuan, down 10, after alumina plants cut bids and northern Shandong offers fell 10 to 20 yuan, with utilisation at 75.0% and plant stocks of 548,800 wet tonnes, up 32.46% on the year.
Alumina decides whether 22 October was a one-session flush. The desk's alumina price scenarios frame that metal on its own book, and a softer bid means less caustic soda pulled into refining. Aluminium ran a different inventory print this year, with LME stocks halved and the price higher.
Key facts
- Caustic soda settled at 1,632 yuan a tonne on 22 October 2026, down 3.89% from 1,698 (SunSirs daily futures board, 22 October 2026).
- SH2701 closed at 1,610 yuan on 679,114 lots, with open interest of 323,000 (生意社 Zhengzhou sheet, 22 October 2026).
- Styrene settled up 2.18% at 10,540 yuan and methanol up 1.35% at 3,152 yuan (SunSirs, 22 October 2026).
- The 32% ion-membrane spot quote was 627 yuan a tonne on 22 and 23 October, against 629 on 21 October (SunSirs spot series, retrieved 23 October 2026).
- Plant stocks were 548,800 wet tonnes, up 32.46% on the year, with weekly utilisation at 75.0% (财信期货研究 via Sina Finance, 22 October 2026).
FAQ
What did the main caustic soda contract settle at?
SH2701 on the Zhengzhou Commodity Exchange settled at 1,632 yuan a tonne on 22 October 2026. SunSirs recorded that as a 3.89% fall from the prior settlement of 1,698 yuan. The same session closed at 1,610 yuan, so the settlement and the last trade are separate prints.
Why did caustic soda fall while styrene and methanol rose?
Styrene and methanol finished higher on the same SunSirs board, so the caustic soda drop sat apart from those two contracts. The 财信期货研究 note tied the weakness to alumina plants cutting purchase prices and to plant stocks up 32.46% on the year. Open interest on SH2701 rose as the settlement fell.
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How far did the spot caustic soda price move?
The SunSirs 32% ion-membrane quote was 627 yuan a tonne on 22 October and again on 23 October, two yuan under 629 on 21 October. A separate 32% average in the 财信期货研究 note was 600 yuan, down 10 on the day. The futures settlement moved 66 yuan in that session.
What to watch
A move in the SunSirs 32% quote away from 627 yuan would revise the surplus case. Rising SH2701 open interest on another lower settlement would mark 22 October as fresh selling, while steady alumina bids in Shandong would make the 3.89% drop look like a futures overshoot. If styrene and methanol later fall with caustic soda, the session reads as a broad chemical selloff.
These figures are exchange and assessment prints retrieved on 23 October 2026. They are not a forecast, a price target, or a recommendation to trade caustic soda or any related contract.