As of November 11, 2026, the reference price of n-butanol in Shandong Province, China was 8266 yuan/ton, a decrease of 234 yuan or 2.66% from November 1 (reference price of n-butanol was 8500 yuan/ton).
1、 Price market description
In early November, the n-butanol market in Shandong showed a trend of initially slight upward adjustment and then fluctuating downward. At the beginning of the month, the n-butanol market in Shandong first fluctuated upwards. On November 3rd, the n-butanol market price rose to 8866 yuan/ton, which was the high point of this cycle; Subsequently, the market’s upward push was hindered. Starting from November 4th, the Shandong n-butanol market began a continuous decline, with a continuous downward trend. On the 11th, the n-butanol price fell to 8266.67 yuan/ton, widening the gap between high and low prices in the market. As of November 11th, the market price reference for n-butanol in Shandong is around 8100-8500 yuan/ton.
2、 Fundamental analysis
In terms of supply and demand: At the beginning of the month, there was not much inventory pressure in the n-butanol factory, and some units were expected to undergo maintenance. There was a speculative sentiment in the market, which led to a round of market rise. However, downstream demand for n-butanol such as acrylic ester and DBP was weak, with rigid demand as the main factor and poor demand transmission. The factory’s willingness to ship was also strong, and the supply of goods gradually became loose. The overall support of supply and demand for the market weakened accordingly.
In terms of cost: As we enter November, the market for propylene, the cost side raw material for n-butanol, has declined, and the cost side has not been sufficiently driven by n-butanol.
Market mentality: The market mentality has become cautious, high price transactions are not smooth, traders offer discounts to ship, and prices continue to decline.
3、 Future forecast
At present, the trading atmosphere in the Shandong n-butanol market is relatively light. In the short term, n-butanol lacks strong positive drivers and is under significant pressure from above. If downstream demand does not concentrate and recover, it is expected that the market situation will mainly fluctuate weakly; Continuous attention should be paid to factory operations, raw material trends, and downstream orders for coatings and plasticizers.
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