SunSirs: Demand Recovered, and N-butanol Market Slightly Rose (March 10-13)
March 15 2024 10:26:37 SunSirs (John)
Price trend
According to monitoring data from SunSirs, as of March 13, 2023, the reference price of n-butanol in Shandong Province, China was 8,033 RMB/ton. Compared with March 10 (reference price of n-butanol was 7,933 RMB/ton), the price increased by 100 RMB/ton, an increase of 1.26%. Compared to March 1st (reference price of n-butanol WAs 8,383 RMB/ton), the price haD been reduced by 350 RMB/ton, a decrease of 4.17%.
Analysis review
From the monitoring chart of SunSirs data, it can be seen that in early March, the domestic n-butanol market in Shandong continued to decline weakly. After entering this week, the n-butanol market finally broke the downward trend and saw a slight recovery in the market. At the beginning of the week, downstream demand for n-butanol improved overall, and a slight boost in demand provided some support for the n-butanol market. During the mid week period, the n-butanol market was consolidating and operating. As of March 13th, the domestic market price of n-butanol in Shandong region was around 8,000-8,100 RMB/ton.
Market outlook
As of March 13th, the trading atmosphere in the n-butanol market had been mild, and the overall supply side of n-butanol was still relatively loose. The overall support from the supply side had shown signs of improvement. After a slight boost in downstream demand, most of the purchases were in demand. According to the n-butanol data analyst from SunSirs, in the short term, the domestic n-butanol market will mainly adjust in a narrow range, and the specific trend still needs to pay more attention to changes in supply and demand news.
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