I. Current Market Situation: Price Under Pressure Amid Supply-Demand Imbalance

Since the new plant in Yulin, Shaanxi commenced production, the domestic n-propanol market has been characterized by ample supply, leading to a continuous decline in market prices. On the demand side, although n-propyl acetate manufacturers have maintained stable production, the weakening cost of raw materials has exerted downward pressure on n-propyl acetate prices. The entire industrial chain is currently constrained by sluggish end-user demand, leaving little room for a market rebound.

II. Market Shift: Price Recovery Driven by Producer Support

Since mid-November, n-propanol producers have initiated price support measures through production coordination and strategic market adjustments. Leading manufacturers in Shandong and East China have reached a provisional consensus, helping to restore market confidence. So far, n-propanol prices have rebounded by approximately CNY 600/ton from the previous low, showing signs of stabilization and recovery in the short term.

III. Future Outlook and Key Monitoring Indicators

A slight upward price trend is expected to continue in the near future, with close attention needed on the following two key indicators:

1. Producer Dynamics: Production capacity release schedules, plant maintenance plans, and inventory fluctuations.
2. Downstream Demand: Operating rates, procurement willingness, and finished product inventory levels of ester manufacturers (especially n-propyl acetate producers).

It is advisable to closely monitor interlinked signals across the industrial chain and adjust procurement and sales strategies in a timely manner.