Ethanol: China's ethanol market weakness was sorted out on September 20

On September 20, the general ethanol price index was 5,754.5, maintaining stability.

Today's weak prices in China's ethanol market are consolidated. Hot spots on September 20:1. The Northeast region maintains stable operation. 2. Consolidating the weaknesses in East China. 3. Central China is temporarily operating stably. 4. China's ethyl acetate market price has increased within a narrow range. Shandong's major factories are bidding for sales, and downstream purchasing sentiment is acceptable.

Specifically speaking, the Northeast region is operating steadily and the on-site supply pressure is still acceptable. Today's reference price in Jilin: The price of general-grade corn ethanol is 5,550 - 5,650 yuan/ton, and the price of anhydrous is 6,300 - 6,550 yuan/ton. Heilongjiang reference price: general price 5,400 - 5,500 yuan/ton, waterless price 6,100 - 6,200 yuan/ton. Jinzhou general reference price is 5,850 - 5,900 yuan/ton. East China is in a weak position, and downstream terminal operators are not enthusiastic about purchasing, and on-site shipments are average. Reference price in northern Jiangsu: The general price is 5800 yuan/ton, which is 50 yuan/ton lower than the previous working day. The reference price for anhydrous water is 6,450 - 6,650 yuan/ton, and the low-end is reduced by 50 yuan/ton compared with the previous working day. Anhui reference price: general price 5,800 - 5,850 yuan/ton, waterless price 6,500 - 6,550 yuan/ton. Reference price in southern Jiangsu: general price 5,950 - 6,100 yuan/ton. Shandong reference price: The general reference price is 5,600 - 5,700 yuan/ton, and the high-end price is reduced by 50 yuan/ton compared with the previous working day. Central China remained stable after falling, and market prices were temporarily stable. Today's Henan reference price: premium grade reference is 5700 yuan/ton, anhydrous ethanol reference is 6550 yuan/ton.

Aftermarket forecast: China's ethanol market is expected to be deadlocked and stable in the short term. In terms of edible ethanol: The Northeast region is operating steadily, and the Henan production area has stabilized after falling. The main factories maintain one line of production, and there are few vehicles in front of the factory; the East China region is weak, and there is no obvious positive support in the field. In terms of coal-to-ethanol: The operation is stabilizing, and coal-to-steel factories maintain a stable price sentiment. In terms of absolute ethanol: large stabilization and small movements, and narrow consolidation in some areas. In terms of fuel ethanol: Local refining purchase prices have been adjusted on a wait-and-see basis, and holders have a strong sentiment to stabilize prices. With high inventories, shipment enthusiasm is still acceptable.

Raw materials:Corn market prices are weak. With the gradual listing of new grains, new grains and old grains are currently jointly supplied to the market. Terminal downstream operators are mainly cautious and wait-and-see. Traders have a strong shipment sentiment, and some price reductions stimulate shipments. DDGS prices are stable and consolidated. Alcohol companies are mostly implementing pre-order contracts. Downstream users consume inventory. Moreover, soybean meal prices have dropped somewhat recently, which may be negative for DDGS prices. The price of dried cassava has remained stable recently, and the cost of cassava alcohol has been relatively stable.

Supply:One line of Huaxing plant in Mengzhou, Henan Province is in operation, Jilin Xintianlong has returned to normal, SDIC Yushu has been put into operation; Anhui COFCO fuel has been shut down, SDIC Tieling has 80% load; Meihekou Fukang Line 4 is normal, and other devices have no significant fluctuations.

Requirements:Demand for liquor continues to be weak, and downstream chemical companies just need to replenish their warehouses。

Logistics:Freight prices remain stable.