Due to the tight global supply of caustic soda, many caustic soda producers in the United States have announced that they have raised their prices for the third time during the year. At the same time, prices in Asia have soared. In the recent Southeast Asian caustic soda import market, the 50% liquid caustic soda import prices are mostly between 500 and 520 US dollars per dry ton (CFR, Southeast Asia), and high-end price transactions have increased slightly. Market participants said that the new round of price increases will begin in June.

In the U.S., OxyChem, Dow Chemical and Olin announced in late April that the price of caustic soda will be raised by US$50 from May 1st (dry short ton price, the same below). In May, two more U.S. producers announced an increase in the price of caustic soda by 50 U.S. dollars.

In Asia, due to the large earthquake that occurred on March 11th, Japan's production facilities closed, resulting in tight supply in Asia, and strong demand, so that the price of caustic soda all the way up. At present, South Korea and Japan have no cash supply, and all products supply local consumption. China has become the only spot supplier in Asia. Northeast Asia is a major exporter of caustic soda with a capacity of 38.5 million tons per year, which accounts for almost half of global production capacity. According to the price report provided by ICIS, the export prices of caustic soda in Northeast Asia have continuously risen, which is about 50% higher than that at the beginning of the year.

As for the main reason for the surge in prices, Oerlikon President Joseph Rupp stated at the earnings conference in the first quarter of this year: “The impact of the earthquake in Japan on the global chlor-alkali industry may continue until 2012. About 13% of Japan’s chlor-alkali capacity will be affected. Earthquake destruction has not yet resumed operation. Another 25% of production capacity is difficult to operate normally due to the interruption of power supply due to the earthquake.” Usually, Japan exports about 500,000 to 750,000 tons of caustic soda each year.

Production problems also plague the U.S. market. On April 19, PPG Corporation announced that its caustic soda plant in West Virginia with a capacity of 250,000 tons/year suffered from force majeure due to mechanical failure. Although PPG announced on May 3 that the liquid caustic soda supply in North America returned to normal, the supply of granular caustic soda was still affected. All liquid caustic soda was supplied at 85% of orders until further notice. PPG also has a capacity of 250,000 tons/year caustic soda in Lake Charles, Louisiana. Due to the leakage of chlorine, the Georgia Gulf company's chlor-alkali plant in Louisiana has maintained a loading rate of only about 60% since the beginning of April and is expected to resume normal production in early June. At present, chlor-alkali in the Georgia Peninsula is only available to contract users and is not available from stock.

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