Price trend
According to the monitoring data of SunSirs, as of March 22, 2023, the reference price of n-butanol in Shandong Province was 7,633 RMB/ton. Compared to March 1 (the reference price of n-butanol was 7,033 RMB/ton), the price increased by 600 RMB/ton, or 2.79%.
Analysis review
As can be seen from the data monitoring chart of SunSirs, since March (3.1-3.24), the domestic butanol market in Shandong Province had seen an overall upward movement. At the beginning of this month, the downstream market of n-butanol welcomed centralized replenishment, boosted the demand side, which helped boosting the steady upward trend of the n-butanol market. After the staged stock preparation in the downstream, the n-butanol market recovered to calm, and the market experienced a slight decline. As of March 10, the reference price for the domestic n-butanol market in Shandong Province was 7,166 RMB/ton, up 1.90% in the early of March. In the middle and late March, as the weather continued to warm, the downstream demand for n-butanol continues to gradually released. The supply side of n-butanol was tightening, and the pressure on the supply side was relatively small. Supported by both supply and demand, the downstream demand of the n-butanol market gradually released, and the overall improvement of the downstream demand side supported the upward trend of the n-butanol market. As of March 24, the domestic market price of n-butanol in Shandong Province was referred to around 7,600-7,700 RMB/ton.
Market outlook
As of the 24th, the trading atmosphere for n-butanol on the market was good. As the temperature increased, the downstream construction of the terminal was boosted, and the operators were in a good mood. According to the n-butanol data analyst of SunSirs, it is expected that in the short term, the domestic n-butanol market in Shandong Province will mainly be adjusted to be stronger, and the specific trend needs to pay more attention to specific news changes on the supply and demand side.
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