Ethanol: On November 8, China's ethanol market stabilized and consolidated

On November 8, the general ethanol price index was 5,476.3, maintaining stability.

Today, China's ethanol market is stabilizing and consolidating. Hot spots on November 8:1. The Northeast region is running steadily. 2. Maintain stability in East China. 3. Central China is organized in a narrow manner. 4. The market price of ethyl acetate in China continues to decline. Major factories in Shandong bid for sales, the starting price continues to be lowered, and market transactions continue to be deadlocked.

Specifically, the Northeast region is operating steadily, with major factories mainly delivering pre-order contracts. Today's reference price in Jilin: the price of general-grade corn ethanol is 5,250 - 5,600 yuan/ton, and the price of anhydrous corn ethanol is 5,800 - 6,150 yuan/ton. Heilongjiang reference price: general price 5,050 - 5,100 yuan/ton. Jinzhou general reference price is 5600 yuan/ton. To maintain stability in East China, terminal downstream operators just need site participation. Reference price in northern Jiangsu: the general price is 5550 yuan/ton, and the waterless reference price is 6,100 - 6,250 yuan/ton. Anhui reference price: general price 5,500 - 5,600 yuan/ton. The price of waterless is 6,200 - 6,500 yuan/ton. Reference price in southern Jiangsu: general price 5,650 - 5,800 yuan/ton. Shandong reference price: premium reference price 5,550 - 5,700 yuan/ton, waterless reference price 6,300 - 6,350 yuan/ton. Central China has consolidated within a narrow range, and prices for high-priced sources have been lowered. Today's reference price in Henan: premium reference price is 5480 yuan/ton, and high-end prices are reduced by 20 yuan/ton compared with a working day. The reference for anhydrous ethanol is 6200 yuan/ton, and the high-end price is reduced by 50 yuan/ton compared with the previous working day.

Aftermarket outlook forecast: It is expected that China's ethanol market will be consolidated within a narrow range in the short term. In terms of edible ethanol: The inventory pressure of holders is still acceptable, and the main factories mainly deliver pre-order contracts; the demand side may improve, which will provide certain positive support for the ethanol market. In terms of anhydrous ethanol: large stability and small changes, on-site supply in Northeast China is still acceptable, and anhydrous prices are operating stably; anhydrous shipments in East China are slow, and market prices remain weak and stable. Fuel ethanol: Local refining prices rebounded slightly, but the cautious wait-and-see attitude of operators in the market remained unchanged. The contradiction between supply and demand remained difficult to change in the short term. Fuel ethanol may remain weak and stable under the game of supply and demand.

Raw materials:Corn market prices are stabilizing. Most deep-processing enterprises in Northeast China maintain low prices for purchases, and some enterprises slightly reduce purchase prices; North China has experienced great stability and small changes, and the market circulation is dominated by trendy grains, and deep-processing enterprises mostly purchase on demand. DDGS prices are stable and consolidating, and downstream terminal operators have a strong wait-and-see attitude. Some alcohol companies have implemented pre-order contracts, but alcohol companies still have the intention to hold prices. Recently, the price of dried cassava has been weak and stable, and the cost of cassava alcohol production has suffered a significant loss.

Supply:Northeast region: Meihekou Fukang Lines 2 and 3 are normal, and Line 4 is expected to restart in the middle of the year; Wanli Runda and SDIC Tieling are 80% loaded; Liaoyuan Jufeng has been suspended for a long time; SDIC Jidong has short-term investment. Central China: One line of Huaxing plant in Mengzhou, Henan Province is operating; South China: Guangxi Jinyuan is shut down; other plants have no fluctuations.

Requirements:whiteDemand for wine has improved slightly, and downstream chemical companies just need to replenish their warehouses.

Logistics:Freight increased slightly.