The n-Propanol Market Continues to be Stable in China For More Than a Month
- 10-Feb-2023 11:52 AM
- Journalist: Timothy Greene
China's n-Propanol market is still stable. Due to average supply-demand dynamics, the market for n-Propanol has been balanced over the past four weeks. One of n-Propanol's largest markets is China, where approximately one-fourth of the global demand is generated.
The market has been experiencing an upward trend that is likely to continue in the near future. According to ChemAnalyst, the market for this commodity has been expanding since the beginning of December 2022, with a sharp price increase in the last week of the month. The n-propanol market experienced negligible growth beginning in the first week of January 2023 through the Chinese New Year break, and the market remained the same even after the holidays.
In the region, n-Propanol is primarily used in manufacturing cleaning products, sealants, adhesives, coatings, and paints, and a rise in demand across all of these industries could drive the expansion of the n-Propanol market in this region.
The relaxation of Covid-19 curbs is expected to increase production activities in upstream and downstream companies in various domains across the country, which may result in the country's economic development and positively impact the market for n-Propanol.
The firm expects the country to receive more import orders for this commodity from India and anticipates the price of ethylene, the base material using n-propanol, to grow, which could definitely play a vital role in increasing n-Propanol's cost.
In the coming weeks, consumers who were purchasing this commodity based on the demand for their end–products so far are expected to purchase more of it to enhance their production and boost sales. As a result, sellers and suppliers of this product are likely to stockpile more of n-Propanol in their warehouses and inventories to meet the increased demand.
As per ChemAnalyst's observations, the cost of n-Propanol in the first week of February was about USD 1,260 per MT on FOB – Qingdao basis. The firm has predicted the cost of this product to grow by 1% this month and by a further 2% per MT in March.
