In March, the domestic market of butyl acetate declined. In the first half of the month, the growth of the butyl ester market was more obvious, with an increase of 300-400 yuan/ton. Mainly because of cost considerations. After the holiday, glacial acetic acid rebounded and rose by 200-250 yuan/ton. The n-butanol will also have a strong bullish outlook in the future due to centralized overhaul in the later period, such as Hualu Hengsheng in March, Yongli in Tianjin Suihua, Sichuan Petrochemical in April, Wanhua Chemical in May, etc. In addition, the foreign Japanese Concord Oil, Formosa Plastics, etc. There is also a maintenance plan. In addition, there are many factors that lead to more propylene feedstocks, and the spot supply in the region is still not high. Butanol is expected to be strong. Under the strong cost support, butyl acetate enterprises can only increase their offers to ensure production profits. However, in the second half of the month, the market for butyl acetate continued to drop sharply. By the end of the month, the decline had reached 400-450 yuan/ton. First, due to the persistently low demand, terminal recovery efforts were limited, and there was little intention to buy butyl ester. The second reason is that raw materials supply companies have lower costs (acetic acid profit of 2,000 yuan/ton and n-butanol profit of 1300 yuan/ton), and prices continue to decline to stimulate consumption. Near the end of the month, due to sluggish demand and falling prices, companies suffered heavy losses, and most of the raw material mining companies stopped or were about to stop.
Domestic butyl acetate market in April is expected to continue weak. The current operating rate of the plant is relatively low. If the profit does not improve in April, the company still has to stop. Downstream demand continues to be sluggish and buying intentions are more cautious. In addition raw material acetic acid is expected to decline in April, n-butanol is currently based on sales pressure and is expected to decline in April. Jinlian Chuang believes that the domestic butyl acetate market stabilized in the first half of April and will change according to the trend of raw materials in the second half of the month.