Price trend
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.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.