# Chlorine: Trading

When a toxic gas sells for less than nothing

Source page: https://www.materialinsights.org/chemicals/chlorine/trading/

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

- Near the producer: by pipeline across the fence, or liquid chlorine in tonners, rail tank cars and road tankers within a few hundred km

#### Who sells, and from where

- Mostly captive: converted on site into EDC, phosgene, HCl or hypochlorite; merchant sales to water works, chemical intermediates makers and paper mills

#### Price benchmarks

| Benchmark | Publisher | Basis |
|---|---|---|
| **China liquid chlorine ex-tank (Shandong, east China)** | Argus; Mysteel | spot, weekly |
| **ECU cash cost and netback by region** | Argus | monthly |
| **US chlorine contract** | IHS/S&P Global, ICIS | monthly contract (subscription) |

#### Exchanges

| Venue | Contract | Notes |
|---|---|---|
| **None** | no chlorine futures; Zhengzhou Commodity Exchange lists caustic soda futures, Dalian lists PVC futures | used to hedge the ECU indirectly |

#### Contract types

- Long-term pipeline supply agreements with cost-plus or ECU-linked formulas
- Monthly or quarterly contracts for liquid chlorine in cylinders and tankers
- Tolling: chlorine user supplies power or salt and pays a fee

#### Traders and distributors

- Very little trading; producers sell direct

#### How Indian buyers price it

- Producer list prices ex-works by state; chlorine realisations in Gujarat and Tamil Nadu are often near zero or negative and are netted against caustic
- Indian producers report 'ECU realisation' in results: caustic price plus chlorine price

#### Recent price points

| Date | Price | Basis | Source |
|---|---|---|---|
| Oct 2025 | **minus Yn100-200/t (about minus $14-28/t)** | China liquid chlorine, Shandong ex-tank | Argus Chlor-Alkali and Derivatives, 3 Oct 2025 |
| Nov 2025 | **about $560 per ECU cash cost** | NW Europe | Argus Chlor-Alkali Outlook, Nov 2025 |

#### Good sources to follow
[Euro Chlor monthly production data](https://www.eurochlor.org)free research site · Euro Chlor

European chlorine output, utilisation and caustic stocks
[Argus Chlor-Alkali and Derivatives](https://view.argusmedia.com/rs/584-BUW-606/images/CHE-Sample-Report-Argus%20Chlor-Alkali%20and%20Derivatives%20%282025-10-03%29.pdf?version=0)paid newsletter · Argus Media

weekly caustic, chlorine and ECU prices
[Chemical Weekly](https://www.chemicalweekly.com)freemium newsletter · Sevak Publications

Indian chemical industry news and prices
[Mysteel chemicals](https://www.mysteel.net)freemium research site · Mysteel

China caustic soda capacity and output

## Other sections

- [Summary](https://www.materialinsights.org/chemicals/chlorine/index.md)
- [Overview](https://www.materialinsights.org/chemicals/chlorine/overview/index.md)
- [Correlation](https://www.materialinsights.org/chemicals/chlorine/correlation/index.md)
- [Production route](https://www.materialinsights.org/chemicals/chlorine/routes/index.md)
- [Production](https://www.materialinsights.org/chemicals/chlorine/production/index.md)
- [Feedstocks](https://www.materialinsights.org/chemicals/chlorine/feedstocks/index.md)
- [Cycles](https://www.materialinsights.org/chemicals/chlorine/cycles/index.md)
- [Movement](https://www.materialinsights.org/chemicals/chlorine/movement/index.md)
- [Regulation](https://www.materialinsights.org/chemicals/chlorine/regulation/index.md)
- [Characteristics](https://www.materialinsights.org/chemicals/chlorine/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/chemicals/chlorine/emissions/index.md)
- [Relationships](https://www.materialinsights.org/chemicals/chlorine/links/index.md)