SunSirs: Supply Increased, N-butanol Market Fell
November 22 2024 09:07:20 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 21, 2024, the reference price of n-butanol in Shandong Province, China was 7,300 RMB/ton. Compared with November 15 (reference price of n-butanol was 7,550 RMB/ton), the price had decreased by 250 RMB/ton, a decrease of 3.31%.
Analysis review
From the commodity market analysis system of SunSirs, it can be seen that the overall n-butanol market in Shandong Province started a slight decline since the beginning of this week (11.15-11.21). The focus of negotiations in the n-butanol market had shifted downwards, and the overall market price had been lowered by 100-200 RMB/ton. As of November 21st, the n-butanol market price in Shandong region was around 7,300-7,500 RMB/ton.
Analysis of Factors Causing Weakness in the Market
Supply side: Some n-butanol plants in Shandong had completed maintenance and resumed production and operation. The overall supply of n-butanol in the plant had increased, and the support provided by the supply side for n-butanol had been reduced.
On the demand side: With the increase in supply, the wait-and-see sentiment in the n-butanol market was becoming stronger, and downstream procurement and stocking were gradually cautious, showing a cautious attitude towards the future trend. The transmission between supply and demand had weakened, and the support provided by the demand side to the n-butanol market had also loosened.
In terms of raw materials: This week, the overall market situation of propylene, the upstream raw material product of n-butanol, showed a weak downward trend. Therefore, the support of n-butanol from raw materials and cost had also weakened.
Market outlook
As of November 21, the trading atmosphere in the n-butanol market was relatively light, with a wait-and-see attitude dominating the market. Demand was mainly for small orders that were just in needed. The n-butanol data analyst from SunSirs believes that in the short term, the domestic n-butanol market will mainly adjust and operate within a narrow range, and specific changes in supply and demand news need to be closely monitored.
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