Price trend

According to the commodity price analysis system of SunSirs, as of January 31, 2025, the reference price of n-butanol in Shandong Province, China, was 6,663 RMB/ton, an increase of 1,030 RMB/ton compared to January 1st (reference price of n-butanol: 5,633 RMB/ton), representing a price increase of 18.28%.

In January, the price of n-butanol showed a continuous upward trend, with the upward momentum becoming even stronger in the latter half of the month

According to the commodity price analysis system of the SunSirs, in January 2026, the domestic n-butanol market in Shandong province showed a steady upward trend. Multiple positive factors supported the market, and the negotiation focus for n-butanol prices continuously shifted to higher levels. The most significant increase occurred from January 25th to 31st, with a weekly increase of nearly 10%. As of January 31st, the reference price for n-butanol in Shandong was around 6,650-6,700 RMB/ton.

Analysis of market influencing factors

Cost side support: The price of propylene, the raw material for n-butanol, continued to rise in January, and this cost transmission effect directly pushed up the market price of n-butanol. 

The supply and demand balance was tight: In January, some domestic n-butanol production facilities entered maintenance periods, leading to a contraction in market supply; at the same time, downstream industries such as coatings and adhesives saw increased demand for pre-holiday stockpiling, boosting purchasing activity. The smooth transmission of supply and demand factors supported a rise in market prices.

Market outlook

As the Spring Festival holiday approaching, market logistics were gradually shutting down. In the short term, the price of n-butanol is expected to remain stable, with a low probability of significant price fluctuations. In the long term, after the holiday, attention should be paid to the pace of downstream companies resuming operations, the actual demand release, and the recovery of market supply after plant maintenance is completed.

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