Trading sentiment in the octanol market has improved.

1. Daily Summary

① Spot transactions for n-butanol in Shandong closed at 8,900–9,000 yuan/ton. The listed contract price reflects a loss of 323 yuan/ton.

② Today’s domestic operating rate for n-butanol units was 75%. Downstream DOTP plants operated at 55%, while DOP plants ran at 43%.

2. Spot Market Overview

Table 1: Summary of Domestic N-Butanol and Key Downstream Product Prices (Unit: Yuan/Ton)

Today, ex-factory prices for n-butanol in Shandong ranged from 8,800 to 9,000 yuan/ton, while the Jiangsu market reference price stood at 9,150–9,220 yuan/ton. Following the holiday, domestic n-butanol markets showed mixed trends compared to pre-holiday levels. In Shandong, expected supply increases led manufacturers to prioritize inventory clearance and sales after the break, resulting in a significant price gap between Shandong and East China. Conversely, spot supply in East China remained tight, driving transaction centers higher. Although cost inversion exists for n-butanol production, improved trading activity in downstream plasticizer markets has bolstered market confidence.

3. Production Dynamics

Today, the capacity utilization rate for domestic n-butanol production hovered around 75%. Feedstock propylene prices in Shandong rose by 335 yuan/ton compared to pre-holiday levels, increasing raw material costs by 241 yuan/ton. With the listed contract price for Shandong n-butanol at 8,800 yuan/ton, producers face a cost-related loss of 323 yuan/ton.

4. Price Forecast

Severe cost inversion persists for n-butanol. However, operating rates at downstream plasticizer plants are gradually rising, and profit margins for plasticizers remain healthy. Consequently, downstream buyers are actively procuring spot n-butanol. The market center is expected to shift upward tomorrow.

5. Related Products

Today, low-priced spot trades for n-butanol flowed smoothly. Post-holiday, supply availability in the DOP market remained ample. Mainstream merchants maintained stable opening prices and aggressively pushed sales. Driven by rising crude oil and futures prices, end-users and traders increased replenishment activities, leading to robust trading volumes and afternoon price gains.

6. Data Calendar

Table 2: Domestic N-Butanol Data Overview (Units: 10,000 Tons; Yuan/Ton)