For the Quarter Ending June 2023


North America

During the second quarter, the overall n-butanol market in the US remained weak as compared to the first quarter, which was influenced by the lower demand for the feedstock propylene market. The n-butanol market continued to follow the increasing trend till April amid tight supply. As per the data, the Industrial Production Total Index rose from 102.6 (March) to 103.1 (April), causing economic activities to improve. At the same time, the US has faced high-cost pressure due to the production cut. Moreover, positive demand for the downstream coating industry was observed, which has contributed to the further increase in prices for n-butanol in the US market as consumer spending in the country recorded an increase in new orders. However, the n-butanol demand saw negative buying sentiments amidst lower demand in the coating industry of the US, which has influenced the prices to continuously decrease and settle at 2252 USD/tonne n-butanol FOB New York during the end of May. Moreover, feedstock propylene prices have shown a significant decline of 10.8% from April to June.

n-Butanol Prices: https://www.chemanalyst.com/Pricing-data/n-butanol-78

Asia

An overall monthly upward trend has been observed during April 2023, owing to the recovery in the downstream operational activities. Due to the increased commodity prices, the Chinese market faced competitive pressure to meet the requirement, which has led the prices of n-butanol to grow due to the limited stock volume available. Nonetheless, Labour Day has also contributed to the significant rise in n-butanol prices during the first week of May. However, the sluggish downstream offers from the coating segment and cheaper imports from Asian countries led to negative sentiment among traders. Moreover, the feedstock propylene prices in China have significantly declined by 7.7% from May to June. Temporary prices rose during June due to Dragon Boat Festival, which has contributed to restricted tight spot flow of the product and influenced the prices to hover at 1030 USC/tonne n-butanol Spot Ex-Shandong. Before having a sharp drop, n-butanol prices were marginally increased in Japan to settle at 1679 USD/tonne CFR Osaka.

n-Butanol Prices: https://www.chemanalyst.com/Pricing-data/n-butanol-78

Europe

The average pricing trend of n-butanol during the second quarter in the European market remained marginally weak compared to the first quarter, which is demand driven from feedstock propylene prices. However, a minimal upward price trend was observed during April 2023, amid subsided destocking in the European market. The finite availability of stocks and lower demand from the downstream coating industry limited the export, which has contributed to the overall upward momentum price trend in the German market. As per the data, Production in Industry-Manufacturing in Germany rose from 97.5 (March) to 97.6 (April), influencing the economic activities to be higher for April. Widely fluctuating crude oil prices and supply tightness influenced the overall pricing dynamics of n-butanol. On the contrary, stabilized downstream demand from the coating industry and surplus domestic supply contributed towards the downtrend of the n-butanol market to settle at 1843 USD/tonne n-butanol FD Hamburg during May. Due to the lower demand for feedstock propylene, BASF in Germany went into maintenance turnaround for two weeks in June, which has affected the overall pricing trend of n-butanol.



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