Ethanol: China's ethanol market was narrowed on June 7

On June 7, the general ethanol price index was 5,992.5, down 1.8 from the previous working day and 0.03% month-on-month.

Today, China's ethanol market prices are consolidated within a narrow range. Hot spots on June 7:1. Stable operation of the market in Northeast China. 2. Partial adjustment of market prices in East China. 3. The market in Central China dropped slightly. 4. The market price of ethyl acetate in China is temporarily stable. Major factories in Shandong are bidding for sales, the starting price is stable, and downstream procurement enthusiasm is flat.

Specifically, market prices in Northeast China have temporarily stabilized, on-site transactions have slowed down near the holidays, and factories have mainly shipped on demand. Today's reference prices in Jilin: the price of ordinary corn ethanol is 5,700 - 5,750 yuan/ton, the price of anhydrous corn ethanol is 6,300 - 6,700 yuan/ton, and the price of premium grade is 5,870 - 6,200 yuan/ton. Heilongjiang reference price: general price 5,530 - 5,700 yuan/ton, waterless price 6,150 - 6,250 yuan/ton. Market prices in East China have been consolidated in a narrow range. In northern Jiangsu, prices for waterless have weakened slightly today. Today's reference price in Shandong: waterless cassava reference 6700 yuan/ton, general cassava reference 6000 yuan/ton. Today's reference price in northern Jiangsu: general reference price is 5,950 - 6,000/ton, waterless reference price is 6,650 - 6,750 yuan/ton, including tax, which is 50 yuan/ton lower than the previous working day. Reference price in southern Jiangsu: general reference price 6,050 - 6,300 yuan/ton. Reference price in Anhui: general reference price 6150-6200 yuan/ton. Central China lowered its price slightly, The recovery of supply from major factories in Henan and the reduction of vehicles before the holiday, but on-site demand fell, and the quotations of some factories were lowered. Today's reference price in Henan: excellent level is 5,900 - 5,950 yuan/ton, and the low-end price is reduced by 30 yuan/ton compared with the previous working day. No water is 6,700 - 6,750 yuan/ton.

Aftermarket outlook forecast: China's ethanol market is expected to be consolidated within a narrow range in the short term, and it is unlikely that prices will fall overall before the holiday. In terms of edible ethanol: With the recovery of three major factories in Henan, supply has increased. Affected by the supply side, operators in the market have bearish expectations. In terms of coal-based ethanol: The recent high settlement price of local refining, coupled with the tight supply of coal, is good for fuel consumption in Northeast China. In terms of absolute ethanol: The overall operation is stable, and the on-site supply remains tight and balanced. Terminal downstream operators just need to submit for participation.

Raw materials: The corn market price range fluctuates. There is insufficient grain sources at the grassroots level. The supply is slightly tight but the demand on the market is not good. The market price range fluctuates under the tug of supply and demand. The price of DDGS is adjusting steadily, and the demand in China's terminal downstream market is poor, so it is used on an on-demand basis. The price of dried cassava has been stable recently, and the cost of cassava alcohol has been relatively stable.

Supply: Hongzhan Laha and Jixian installations have been restored, and Anhui Tanxin continues to increase shipments. SDIC Tieling has been restored, and SDIC Jidong fuel line has stopped feeding. Zhaodong COFCO has been restarted, and the restart of Fukang Line 2/3 has been delayed until the end of the month. Jinyimeng was shut down without water, and others remained stable.

Demand: Downstream chemical industry just needs to purchase, but liquor procurement is general.

Logistics: Freight rates have increased slightly recently.