Price trend

According to monitoring data from SunSirs, as of March 31, 2023, the reference price of n-butanol in Shandong Province, China was 7,916 RMB/ton. Compared with March 1 (reference price of n-butanol was 8,383 RMB/ton), the price decreased by 467 RMB/ton, a decrease of 5.57%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that the n-butanol market in early March did not usher in the traditional "golden March", but instead encountered a continuous decline in market conditions. The focus of n-butanol negotiations fluctuated from around 8,400 RMB/ton at the beginning of the month to a low point of 7,700 RMB/ton. Towards the end of the month, the n-butanol market finally saw a slight recovery, but compared with the continuous decline in the previous period, the recovery was average. In March, the overall n-butanol market still showed a downward trend.

Factors influencing the market trend of n-butanol

In terms of demand: In March, the overall demand in the downstream market for n-butanol was weak, with few new transactions for n-butanol. Downstream buyers were mainly cautious in purchasing on demand and the overall trading atmosphere in the market was light, with a strong wait-and-see atmosphere. Therefore, in March, the overall demand side for n-butanol provided insufficient support to the market.

In terms of supply: In March, the overall supply of n-butanol in the factory was sufficient, and the supply side of the factory was under pressure, resulting in a slow pace of n-butanol overall shipment. Therefore, in March, the overall performance of n-butanol factories was mainly focused on pressure and profit concessions, and the overall supply side did not provide effective support to the n-butanol market.

Market outlook

At the end of March, although the n-butanol market experienced a recovery, the recovery momentum was not significant compared to the continuous deep decline in early March. The trading atmosphere in the n-butanol market was still good, with downstream continuing to purchase on demand and buying on dips. The supply side of n-butanol had shown stable performance. According to the n-butanol data analyst from SunSirs, in the short term, the domestic n-butanol market will mainly adjust in a range, and the specific trend still needs to pay more attention to changes in supply and demand news.

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