SunSirs: After the Holiday, the N-butanol Market Saw a Broad Upward Movement (May 1-6)
May 08 2023 10:49:15 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of May 6, 2023, the reference price of n-butanol in the Shandong region of China was 8,233 RMB/ton. Compared with May 1 (reference price of n-butanol was 7,166 RMB/ton), the price increased by 1,067 RMB/ton, an increase of 14.88%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that after the May Day holiday, the domestic Shandong n-butanol market experienced a broad upward trend. The main driving force behind the concentrated upward movement of the n-butanol market came from the supply side. During the holiday period, some regions in China shut down production of n-butanol units. After the holiday, the supply of n-butanol in the field became tight, and the tight spot circulation supported the upward movement of the market center of gravity. On the first working day after the holiday, domestic butanol factories in Shandong region raised the price of butanol by 300 to 500 RMB/ton. The overall market situation of n-butanol continued to rise in the following two days. As of May 6, the market price of n-butanol in Shandong Province was around 8,200-8,500 RMB/ton.
Market outlook
As of May 6th, the trading atmosphere of n-butanol on the market was mild, and the supply side continued to provide some support to the market. The market was rising, and downstream new orders were trading cautiously. SunSirs’ n-butanol data analyst predicts that in the short term, the domestic Shandong region's n-butanol market will mostly remain stable and consolidate, and the specific trend needs to pay more attention to specific news changes on the supply and demand side.
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