According to the monitoring data of SunSirs, as of February 24, 2023, the reference price of n-butanol in Shandong Province was 7,233 RMB/ton. Compared with February 1 (the reference price of n-butanol was 8,000 RMB/ton), the price decreased by 767 RMB/ton, or 9.58%.
Analysis review
It can be seen from the data monitoring chart of SunSirs that since February (2.01-2.24), the domestic n-butanol market in Shandong Province had been in a weak trend as a whole. In the first ten days of February, the downstream demand of n-butanol was insufficient, the transmission of supply and demand was slow, the inventory of n-butanol continued to accumulate, the pressure of the manufacturer on shipment increased, and the focus of n-butanol market continued to decline. On February 13, the market price of n-butanol in Shandong Province was around 7,200-7,300 RMB/ton.
Then in late February, the downstream demand of n-butanol improved slightly, and the market of n-butanol experienced a slight recovery under the demand increase. However, after the completion of the downstream replenishment, the market demand returned to cold, and the market of n-butanol fell again. As of February 24, the domestic market price of n-butanol in Shandong Province was around 7,100-7,300 RMB/ton, with a decline of more than 9% compared with the beginning of the month.
Market outlook
As of the 24th, the trading atmosphere of n-butanol on the market was light, the operators were in a general mood, and the downstream demand still needed time to gradually improve. The n-butanol statistician of SunSirs believed that in the short term, the domestic n-butanol market in Shandong Province was mainly subject to narrow adjustment and operation, and the specific trend still needed to pay more attention to the specific news changes on the supply and demand side.
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