Caustic soda: Trading
Why prices are quoted per dry tonne
What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.Who buys, and where
- US Gulf, NE Asia (China, Japan, Korea, Taiwan) and Middle East exporters; Indian domestic producers
Who sells, and from where
- Alumina refineries (Australia, Brazil, India), pulp mills (Brazil, Indonesia), and chemical users in Latin America, Africa and South-East Asia
Price benchmarks
| Benchmark | Publisher | Basis |
|---|---|---|
| Caustic soda fob USGC export | Argus | weekly, $/dmt |
| Caustic soda fob NE Asia | Argus; ICIS | weekly, $/dmt |
| Caustic soda contract fd NW Europe | Argus | quarterly, EUR/dmt |
| China 32% and 50% ex-works | Argus; Mysteel | daily/weekly, Yn/t |
Exchanges
| Venue | Contract | Notes |
|---|---|---|
| Zhengzhou Commodity Exchange | caustic soda futures (32% liquid caustic) | launched 2023 (indicative); used by Chinese producers and alumina buyers |
Contract types
- Quarterly and monthly contracts for 50% lye
- Spot cargoes of 10,000-40,000 t
- Formula contracts linked to Argus/ICIS indices for alumina refiners
Traders and distributors
- Producers' own trading arms (OxyChem, Olin, Formosa)
- Chemical distributors such as Univar and Brenntag (indicative)
How Indian buyers price it
- Producer ex-works price in Rs/dmt, set close to import parity (CFR India plus duty)
- Gujarat (Dahej) price is the reference
- Chlorine realisations are netted in ECU terms
Recent price points
| Date | Price | Basis | Source |
|---|---|---|---|
| Aug 2025 | $0.411/kg | Dahej domestic bulk | Alchempro 2025 |
| Oct 2025 | Rs 35,000-36,000/dmt (about $399/dmt) | India domestic ex-works, excluding tax | Argus, 3 Oct 2025 |
| Oct 2025 | $380-393/dmt | fob NE Asia | Argus, 3 Oct 2025 |
| Oct 2025 | $390-440/dmt | fob USGC export | Argus, 3 Oct 2025 |
| Mar 2026 (forecast) | $425/dmt | fob USGC | Argus Chlor-Alkali Outlook Nov 2025 |
Good sources to follow
Argus Chlor-Alkali and Derivativespaid newsletter · Argus Mediaweekly caustic prices worldwide
Euro Chlorfree research site · Cefic sector groupEuropean production, caustic stocks, eco-profiles
Alchempro industry articlesfree blog · AlchemproIndian caustic capacity and prices
Mysteelfreemium research site · MysteelChina caustic capacity and output