Ethanol: On September 23, China's ethanol market continued to be weak

On September 23, the general-grade ethanol price index was 5748.5, down 6% from the previous working day and 0.1% from the previous working day.

Today, the price of ethanol in China continues to be weak. Hot spots on September 23: first, the northeast region is partially downward. Second, the weak and stable operation in East China. Third, the weakness in Central China has been reduced. Fourth, the market price of ethyl acetate in China rose narrowly, the main factories in Shandong bid for sales, the starting price increased slightly, and the atmosphere of premium transaction was good.

Specifically, the northeast part of the downward trend, Jilin market prices down, individual factories quote tomorrow. Today's Jilin reference price: general corn ethanol price 5550-5650 yuan / ton, anhydrous price 6250-6400 yuan / ton, low-end price 50 yuan / ton lower than the previous working day, high-end price 150 yuan / ton lower than the previous working day. Heilongjiang reference price: general price 5400-5500 yuan / ton, water-free price 6100-6200 yuan / ton. Jinzhou general reference price 5850-5900 yuan / ton. East China weak and stable operation, terminal downstream operators rigid demand to purchase into the market, Shandong regional offer continued to decline. Northern Jiangsu reference price: general price 5800 yuan / ton, anhydrous reference price 6450-6650 yuan / ton. Anhui reference price: general price 5800-5850 yuan / ton, water-free price 6500-6550 yuan / ton. Southern Jiangsu reference price: general price 5950-6100 yuan / ton. Shandong reference price: the general reference price is 5500-5700 yuan / ton, and the low-end price is 100 yuan / ton lower than that of the previous working day. The weakness in central China has been adjusted downwards, and the situation of on-site shipments is poor. Today's Henan reference price: excellent reference 5600-5650 yuan / ton, the low-end price is 100 yuan / ton lower than the previous working day, and the high-end price is 50 yuan / ton lower than the previous working day. Anhydrous ethanol refers to 6450 yuan / ton, which is 100 yuan / ton lower than the previous working day.

Future forecast: it is expected that China's ethanol market will be weak in the short term. Edible ethanol: local downward finishing in Northeast China, weak demand in East China and Henan, poor trading atmosphere, weak market price. In terms of coal-to-ethanol: maintain stable operation, coal-based factories maintain stable price sentiment. In the aspect of anhydrous ethanol: it is stable and the mainstream price tends to be stable. Fuel ethanol: the main side is based on cost pressure, the price stability mood of the holder is strong; under the support of pre-holiday stock, the market is stable.

Raw materials:The price of corn market is weak. With the gradual listing of new grain, the market mentality is weak, coupled with the increase in market supply, negative corn market prices. DDGS price stable finishing, alcohol enterprises to implement pre-order contracts, recently the downstream market wait-and-see mood increased, the market lack of obvious positive factors to support DDGS prices. The price of dried cassava remains stable in the near future, and the cost of cassava alcohol is relatively stable.

Supply:Henan Mengzhou Huaxing plant a line operation, Jilin Xintianlong returned to normal, Guotou Yushu has been fed; Anhui COFCO fuel has been shut down, Guotou Tieling 80% load; Meihekou Fukang Line 4 is normal, other devices have no obvious fluctuations.

Demand:WhiteThe demand for alcohol continues to be weak, and downstream chemical enterprises have a rigid demand for replenishment.

Logistics:Freight prices remain stable.