Morning Market Alert: n-Butanol

I. Key Focus Points

1. n-Butanol prices continued to trend downward amid volatility.
2. Downstream buyers maintained cautious purchasing based on rigid demand.
3. Oct 21: Geopolitical instability in the Middle East persisted, while both Russia and Ukraine signaled willingness for peace talks, resulting in mixed movements in international crude oil prices. NYMEX WTI front-month (December) futures settled at $97.15/bbl, down $0.67/bbl (-0.68% WoW); ICE Brent front-month (December) futures closed at $108.82/bbl, up $0.03/bbl (+0.03% WoW). China INE crude oil futures (contract SC2612) fell by CNY 26.5 to CNY 700.8/bbl; night session dropped further by CNY 10.5 to CNY 690.3/bbl.

II. Price Table

Notes:

1. Prices for n-butanol, butyl acrylate, butyl acetate, and DBP refer to national standard premium-grade products.
2. All four items are quoted in RMB, with units of yuan/ton.

III. Market Outlook

Yesterday, domestic n-butanol market prices continued their volatile downward trend. Market sentiment shifted toward wait-and-see attitudes. Feedstock propylene prices remained weak, reducing cost-side support. Downstream purchase intentions were low, with transactions mainly driven by rigid demand at lower price points. Producers actively offered discounts to facilitate sales, causing the market center of gravity to shift toward lower price ranges. Trading activity was relatively subdued. The domestic n-butanol market is expected to remain weak and volatile today.

IV. Data Calendar

1. ↓↑ indicates significant fluctuations, highlighting data dimensions with changes exceeding ±3%.
2. ↗↘ indicates narrow-range fluctuations, highlighting data dimensions with changes within ±0–3%.