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SunSirs: Supply and Demand Mismatched, N-butanol Market Fell by 3.40% in February

March 05 2024 16:06:36     SunSirs (John)

Price trend

According to monitoring data from SunSirs, as of February 29, 2023, the reference price of n-butanol in Shandong Province, China was 8,616 RMB/ton. Compared with February 1 (reference price of n-butanol was 8,816 RMB/ton), the price decreased by 200 RMB/ton, a decrease of 3.40%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that in February, the overall n-butanol market in Shandong, China showed a weak downward trend. The center of the n-butanol market haD been continuously approaching a low level since the beginning of the month, with a price reduction of 200-300 RMB/ton for n-butanol. As of February 29th, the reference price for the domestic n-butanol market in Shandong region was around 8,600-8,700 RMB/ton.

Factors influencing the market trend of n-butanol

In terms of demand: In early February, on the eve of the Spring Festival, the downstream stocking of n-butanol market had basically ended, with light market trading and calm demand. Returning from the Spring Festival holiday, the downstream production of n-butanol was relatively low, and the overall demand recovery was slow. New orders after the holiday were cautious and in high demand. Therefore, during February, the demand side provided loose support for n-butanol.

In terms of supply: Before the holiday, the shipment of n-butanol was average, but during the Spring Festival, there was a certain accumulation of inventory in the market. After the holiday, construction was underway, and the overall supply of n-butanol in the factory was loose. In addition, some areas were affected by weather after the holiday, and logistics transportation was limited, resulting in slow circulation of n-butanol. In February, the overall supply side failed to provide effective support to the n-butanol market.

Market outlook

As of the end of February, the trading atmosphere in the n-butanol market was average, with n-butanol factories actively shipping and downstream buying on dips as the main focus. The n-butanol data analyst from SunSirs believes that in the short term, the domestic n-butanol market in Shandong Province will mainly operate steadily with small fluctuations, and the specific trend still needs to pay more attention to changes in supply and demand news.

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