According to the Commodity Market Analysis System of Shengyi Society, from July 29th to August 2nd, the domestic ethanol price fell from 6012 yuan/ton to 6000 yuan/ton, with a price drop of 0.21% during the period and a year-on-year decline of 9.60%. The demand side continues to be sluggish, factory prices are falling to stimulate shipments, downstream purchasing power is limited, and the ethanol market is running weakly.
In terms of cost, the domestic corn market prices are stable but relatively weak, and traders’ enthusiasm for shipment has increased, gradually accepting sales. However, downstream purchasing attitudes are cautious, maintaining on-demand procurement, and the market volume of goods is not large. There are few purchasing entities in the port, the arrival volume remains low, the demand for loading is not high, and traders are mainly slow to reduce inventory. The cost of ethanol is influenced by bearish factors.
On the supply side, there are significant differences in the operating rates of production enterprises in different regions, and the ethanol supply side is influenced by favorable factors.
Demand side, Baijiu consumption off-season; The purchase volume of anhydrous methyl ethyl ester has decreased; The utilization rate of ethyl acetate production capacity has decreased, and it is expected to reduce the purchase volume of general grade ethanol. Short term ethanol demand is influenced by bearish factors.
In the future market forecast, the negative impact of cost is expected, while the market supply remains abundant, resulting in overall shipping pressure. The ethanol analyst from Shengyi Society predicts that the short-term domestic ethanol market will be mainly dominated by weak consolidation.
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