According to the monitoring data of business associations, as of July 11, the average price of domestic ethanol market was 5370 yuan/ton. The domestic ethanol market remained stable, with some areas falling.
II. Market Analysis
Products: Domestic alcohol market in Henan and East China slightly weakened. Stimulated by the low-priced goods in Northeast China, the price of Henan has dropped slightly; the market in Northeast China has heard of a decline, the situation of enterprise maintenance has increased, and the downstream maintains just in need of procurement; the situation of water-free in East China has slightly declined, and the downstream maintains just in need of procurement; the quotation of enterprises in South China is stable, and the situation of water-free shipment. Good, downstream maintenance just needed to purchase.
Industry Chain: Corn: Under the drag of limited downstream purchasing boost, it is difficult for the market to recover significantly in the short term. Some trading enterprises actively released their warehouses. Some corn deep processing enterprises are about to be repaired in summer. In addition, the demand for breeding is currently in a relatively stable state. Therefore, we predict that in the context of the continued entry of grain auctions into the market, the corn market will continue to maintain a weaker adjustment at a greater probability until the end of the auction. However, from the overall trend, the corn market is expected to be bullish after the middle and late August. Ethyl acetate: The domestic market for ethyl acetate is optimistic, the low-end supplier’s offer is still rising, which leads to the continued rise of some transactions in the market. Mainstream production enterprises in South China market have been rising for two days, leading to market follow-up. The overall market is more active, but the downstream terminal purchase is still rational, traders purchase is relatively positive, and demand is relatively positive. Continuous support is weak. Raw material acetic acid market is weak, ethyl acetate power support weakens, the market is expected to end, wait and see the end of digestion.
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3. Future Market Forecast
Northeast enterprises have centralized overhaul and reduced supply, but their stocks are high, and they are expected to be weaker in Northeast China. The downstream delivery situation in East China is not good, and the market is slightly weaker. Affected by the supply of raw materials in South China, the willingness of enterprises to bid at low prices disappears obviously, and the short-term market consolidation operation is expected. Ethanol analysts at business associations expect the domestic ethanol market to run smoothly in the short term.