Ethanol: China's ethanol market will be put into operation on May 10

On May 10, the general ethanol price index was 5678, unchanged from yesterday.

 China's ethanol market prices have stabilized and moved slightly. Hot spots on May 9:1. Market prices in South China are temporarily stable. 2. Prices in East China have adjusted within a narrow range. 3. Price consolidation and operation in Northeast China. 4. The market price of ethyl acetate was adjusted at a high level. Major factories in Shandong competed for sales, and the starting price remained stable, and the transaction atmosphere continued to be dull.

Specifically, prices in the Northeast region are consolidated and operating, market demand is flat, and shipments of cargo holders are not smooth. The price of general-grade corn ethanol in the Jilin market is 5,700 - 5,750 yuan/ton, the price of high-grade corn ethanol is 5,870 - 6,000 yuan/ton, and the price of ordinary corn without water is 6,300 - 6,400 yuan/ton. Prices in Henan are stable, and there is little pressure on shippers to ship. Limited shipments are the main focus. Premium prices range from 5,850 to 5,900 yuan/ton, and waterless prices range from 6,600 to 6,650 yuan/ton. Prices in East China adjusted within a narrow range. The transaction price of general-grade ethanol is 6,000 - 6,030 yuan/ton, high-grade ethanol is 6,100 - 6,130 yuan/ton, and waterless is 6,650 - 6,750 yuan/ton. Downstream is mainly in need of replenishment, and the market transaction atmosphere is limited.

                                     Unit: yuan/ton

Aftermarket outlook forecast: China's ethanol market prices are expected to be narrowed in the short term, with short-term consumption increasing mainly. Meihekou Fukang is temporarily scheduled to start line inspections on May 15; Chifeng Ruiyang's shutdown time is scheduled to be May 10 - 15; COFCO Zhaodong's edible line will be suspended this month, and the market supply in the region has decreased. Although downstream demand follow-up is limited, the edible ethanol market may be running at a high level with the support of simultaneous positive costs and supply. Fuel ethanol factories maintain high prices and place more main orders. Local refining procurement is expected to be mainly delivered from Northeast China, and the high level remains firm. In the later stage, we also need to pay attention to the operation of the equipment in the field.