According to the commodity market analysis system of Business Society, as of January 31, 2025, the reference price of n-butanol in Shandong, China, was 6,663 RMB/ton. Compared with January 1 (when the reference price of n-butanol was 5,633 RMB/ton), the price increased by 1,030 RMB/ton, representing a rise of 18.28%. Throughout January, the price of n-butanol showed a continuous upward trend, with stronger momentum in the latter half of the month.

Based on the commodity market analysis system of Business Society, in January 2026, the n-butanol market in Shandong, China, exhibited a steady upward trend overall. Multiple positive factors provided support to the market, and the focus of n-butanol negotiations continued to shift toward higher levels. The period from January 25 to 31 saw the most significant increase, with a weekly rise of nearly 10%. As of January 31, the price of n-butanol in Shandong was around 6,650–6,700 RMB/ton.

Analysis of Market Influencing Factors

• Cost-side support: The price of propylene, a raw material for n-butanol, continued to rise in January, and the cost transmission effect directly drove up the n-butanol market.
• Tight supply-demand balance: In January, some domestic n-butanol units entered maintenance periods, leading to a contraction in market supply. Meanwhile, downstream industries such as coatings and adhesives saw increased pre-holiday stocking demand, boosting purchasing enthusiasm. The smooth transmission of supply and demand provided dual support for the market's upward trend.

Future Outlook
As the Spring Festival holiday approaches, market logistics will gradually halt. In the short term, n-butanol prices are expected to consolidate, with limited likelihood of significant adjustments. In the long term, after the holiday, attention should be paid to the pace of downstream enterprises' resumption of work, the actual release of demand, and the recovery of market supply after the completion of unit maintenance.