Supply Exceeds Demand, n-Butanol Continues to Decline

November 10th, news:

According to the commodity market analysis system, as of November 10, 2025, the reference price for n-butanol in Shandong, China, is 5,166 CNY per ton. Compared to November 1 (when the reference price for n-butanol was 5,233 CNY per ton), the price has decreased by 67 CNY per ton, a price decrease of 1.27%.

Fundamental Weakness: Shandong Normal Butanol Continues to Decline

From the commodity market analysis system, it can be seen that as of this week, the n-butanol market in Shandong, China, continues to decline. At the beginning of the week, major factories in Shandong once again offered discounts, reducing the price of n-butanol by 50 CNY/ton. On November 10, the n-butanol market price in the Shandong region was around 5,150-5,200 CNY/ton.

Market Factor Analysis

Demand Side: Currently, the intraday trading atmosphere for n-butanol in Shandong is subdued, with a strong wait-and-see attitude. Downstream users of n-butanol are cautious in their operations, with inquiries and purchases mostly focused on lower-end price levels—resulting in few high-priced deals. Overall, end-users are primarily taking advantage of dips in prices to build up their inventories based on immediate needs.

Supply aspect: Currently, the supply of n-butanol in the Chinese market remains abundant, with the overall supply exceeding demand, leading to increased supply pressure.

From a cost perspective: Propylene prices in the raw materials market have been fluctuating, providing positive cost support that has slightly improved the overall situation for n-butanol. According to data, on November 10, the benchmark price for propylene was 5,890.75 CNY per ton, down 2.76% from the beginning of this month (6,058.25 CNY per ton).

Future Market Forecast

Currently, in Shandong, the sentiment of watching and waiting still dominates the n-butanol market, with slow transmission between supply and demand. N-butanol data analysts predict that in the short term, the n-butanol market in Shandong will mainly see narrow-range consolidation. Specific developments will require close attention to changes in supply and demand dynamics.