According to monitoring data from SunSirs, as of October 17, 2023, the reference price of n-butanol in the Shandong region of China was 8,600 RMB/ton. Compared with October 15 (reference price of n-butanol was 8,833 RMB/ton), the price decreased by 233 RMB/ton, a decrease of 2.64% within two days, and a decrease of 5.15% compared to early October.
Analysis review
After the end of the National Day holiday, the overall market situation of n-butanol in the Shandong region of China was weak and declined. Entering this week, the decline in the n-butanol market had not stopped, and n-butanol factories and suppliers had successively lowered the shipping prices of n-butanol, with a reduction range of around 200-300 RMB/ton. On October 17th, the domestic Shandong region's n-butanol market price reference was around 8,550-8,650 RMB/ton.
In terms of demand: As entering this week, the downstream demand for n-butanol had not boosted significantly, and downstream wait-and-see sentiment was strong. The overall support for n-butanol from the demand side was still weak, and the focus of the n-butanol market continued to move downwards.
On the supply side: as of October 17, the overall supply of n-butanol in the field was relatively loose, and some factories have some shipping pressure. The supply and demand transmission was slow, and the support for n-butanol in the supply side was also loosened.
Market outlook
As of October 17, the trading atmosphere of n-butanol on the market was average, with a strong wait-and-see sentiment in the market. Downstream was cautious and just in need of procurement, new order transaction was light, and effective support for n-butanol on the market was weak. The n-butanol data analyst from SunSirs predicts that in the short term, the domestic n-butanol market is mainly volatile and weak, and the specific trend still needs to pay more attention to specific news changes on the supply and demand side.
