SunSirs: Driven by Favorable Factors, Shandong N-Butanol Rose Steadily in Early April

According to data from the SunSirs Commodity Market Analysis System, as of April 8, 2026, the benchmark price for n-butanol in the Shandong region stood at 8,933 RMB/ton. This represents an increase of 367 RMB—or 4.28%—compared to the price recorded on April 1 (when the benchmark price was 8,566 RMB/ton).

Price Trend Review

In early April (April 1-6), prices in the Shandong n-butanol market exhibited a pattern of slight, fluctuating upward movement; prices climbed gradually from 8,566.67 RMB/ton to 8,600 RMB/ton, with a steady daily increase of 0.39%, reflecting overall market stability. On April 7–8, n-butanol prices experienced a sharp surge, recording a two-day increase of 3.88%; prices broke through the 8,900 RMB/ton mark, shifting the price center significantly upward and reaching a new high for the current cycle.

Analysis of Core Influencing Factors

Cost Side: Rising Raw Material Prices Provide Rigid Support

In early April, the price of propylene—a key upstream raw material for n-butanol—trended upward amidst volatility, driven by international crude oil markets. Consequently, cost support for n-butanol strengthened, leading to a rigid increase in production costs and a strong inclination among manufacturers to push for price hikes.

Supply and Demand: Favorable Fundamentals Provided Further Support to Market Prices

As of April 8, inventories at n-butanol production facilities remained at low levels. With several major manufacturers fulfilling export orders, market supply was limited. Downstream sectors—including coatings, adhesives, resins, and acrylates—were engaging in opportunistic buying to meet their essential demand. Consequently, inquiries and transactions at lower price points were robust, providing strong support for an upward trend in n-butanol prices.

Market Outlook:

In the short term (1–2 weeks), the market landscape—characterized by tight supply, cost-side support, and inelastic demand—remains unchanged. N-Butanol prices are highly likely to maintain a volatile yet upward-trending trajectory, with prices in the Shandong region potentially continuing to test the 9,000 RMB/ton threshold. Key factors to monitor include the resumption of plant operations, fluctuations in raw material prices, and the purchasing pace of downstream sectors. From a medium-to-long-term perspective (late April through May), should new production capacity gradually come online and supply pressures ease, prices may undergo a temporary correction. However, given that the second quarter is traditionally a peak season for demand—coupled with factors such as environmental production restrictions—the price floor remains well-supported, resulting in an overall market pattern of "high-level volatility."

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.