Price trend

According to data from the SunSirs Commodity Market Analysis System, as of March 17, 2026, the benchmark price for n-butanol in the Shandong region stood at 7,766 RMB/ton. This represents a decrease of 967 RMB/ton—or 12.08%—compared to the price recorded on March 11 (when the benchmark price was 8,833 RMB/ton).

In mid-March, the n-butanol market in Shandong retreated from its high levels 

According to the SunSirs Commodity Market Analysis System, during mid-March (March 11–17), the n-butanol market in Shandong province generally exhibited a unilateral downward trend. The market's price center shifted significantly lower, with the largest single-day decline exceeding 500 RMB/ton. As of March 17, reference prices for n-butanol in Shandong hovered in the range of 7,500 to 8,000 RMB/ton.

Analysis of Key Influencing Factors

Macroeconomic Outlook: In early March, driven by heightened geopolitical tensions in the Middle East, global crude oil prices surged, leading to a rapid escalation in the cost of basic chemical commodities; consequently, market prices for n-butanol rose steadily. However, as geopolitical tensions subsequently eased, international oil prices fluctuated downward; the broader chemical market’s anxiety regarding potential "supply disruptions" subsided, resulting in an overall downward market correction.

Regarding costs: Recently, market prices for propylene—the primary feedstock for n-butanol—were trending downward. This had resulted in diminished cost support for n-butanol, causing market prices for the latter to follow the downward trajectory of its raw material.

Regarding Demand: As of March 17, a strong wait-and-see sentiment prevailed among downstream consumers of n-butanol; purchasing was limited to immediate necessities, undertaken opportunistically during market dips. Market inquiry and transaction activity remained sluggish. Consequently, manufacturing plants had proactively lowered their ex-factory prices in an effort to actively move inventory.

Regarding Exports: The complex and volatile geopolitical landscape overseas—coupled with rising trade risks in certain regions—had resulted in constraints on export orders.

Market outlook

As of March 17, n-butanol prices in the Shandong region faced continued downward pressure in the short term. Market participants should closely monitor the recovery of operating rates in downstream sectors, price trends for the raw material—propylene—and whether any new geopolitical disturbances emerge. If downstream demand remains sluggish to pick up, or if expectations of geopolitical de-escalation persist, prices may continue to plumb new lows; conversely, should sudden geopolitical risks drive up oil prices, the market could experience a rebound.

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