SunSirs: Supported by Favorable Factors, N-butanol Saw a Half Month Increase of Over 8%
November 18 2024 09:43:51 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 15, 2024, the reference price of n-butanol in Shandong Province, China was 7,500 RMB/ton. Compared with November 1 (reference price of n-butanol was 6,900 RMB/ton), the price had increased by 600 RMB/ton, an increase of 8.70%.
Analysis review
From the Commodity Market Analysis System of SunSirs, it can be seen that in early November, the overall market situation of n-butanol in Shandong Province, China, showed an upward trend. The price of n-butanol has been rising from 6,900 RMB/ton at the beginning of the month to around 7,500 RMB/ton, with an increase of 8.7% in the first half of the month. On November 15th, the reference price for n-butanol market in Shandong region was around 7,300-7,700 RMB/ton.
Analysis of Factors Influencing the Rising Market Trend
In terms of demand: In the first half of the year, the overall demand performance of the downstream market for n-butanol was good, downstream users ushered in phased stocking, new transactions for n-butanol improved, and the overall market atmosphere was boosted. The demand side provided upward support for the n-butanol market.
In terms of supply: At the beginning of the month, the supply of n-butanol showed stable performance, with smooth transmission between supply and demand and little supply pressure. Subsequently, the n-butanol plant of a large factory in Shandong was shut down for maintenance, and the overall supply in the field became tight. The supply side supported the market trend and continued to adjust upwards.
Market outlook
As of November 15th, there was a temporary production stoppage and reduction phenomenon on the supply side, and the trading atmosphere in the n-butanol market had improved. The supply and demand transmission was still good. The n-butanol data analyst from SunSirs believes that in the short term, the n-butanol market in Shandong Province will mainly operate steadily with a moderate to stronge trend, and specific changes in supply and demand information need to be closely monitored.
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