Price Trend
According to the monitoring data of business associations, as of March 26, the average price of domestic ethanol market was 5376 yuan/ton. The domestic ethanol market was mainly stable, while the market in some areas was slightly lower.
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II. Market Analysis
Products: The domestic alcohol market is stable. Enterprises in Northeast China have normal plant production. At present, the stock of enterprises is not high, the quotation of enterprises is firm, and the market transaction price is stable. Some enterprises in East China have installed parking because of their own reasons, because of strict inspection in Jiangsu, downstream parking has been heard; Baichen device parking in South China market, Guangxi, has strong quotation performance, imports arriving at the port at the end of the month, and downstream demand is light.
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Industry chain: Maize: In the short term, maize prices will continue to weaken under pressure. It is expected that from March to early May, maize prices will generally moderately strengthen. But if the Sino-US trade consultation announces positive and good news during this period, the chances of corn prices falling will increase. Therefore, the key to the forecast of corn price overall bullish in March-May is to pay attention to the outcome of Sino-US trade negotiations. Ethyl acetate: The domestic market for ethyl acetate is weak, and the market supply is continuing to be sufficient. The downstream phase purchasing of ethyl acetate has led to the recent market transaction blocked, and some suppliers have been forced to sell at a profit. And the ethyl acetate plant of Soap in Jiangsu resumed full load operation, and the market supply continued to increase.
3. Future Market Forecast
In the short term, the raw Maize in Northeast China maintained stable, the cost side was not obviously supported, the enterprise inventory was not high, and the price remained firm in the short term; the plant start-up situation in East China continued to increase, the supply increased, and the short-term market was expected to be weak; the downstream demand in South China was weak, and the short-term market was expected to be weak. Ethanol analysts at business associations expect the short-term market to be weak.
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