The Asia contract price for first-half 2009 caustic soda has been settled at $390/dry metric tonne (dmt) (€300/dmt), about 21% lower than the price set in the second half of last year. The settlement price, which was on FOB (free on board) northeast (NE) Asia basis, was down $105/dmt from the level achieved for July-to-December 2008 material, indicating faltering demand for caustic soda, buyers and sellers said.