SunSirs: Cost Was Reduced, Ethyl Alcohol Market Continued to Weaken

　　Price trend

　　According to the sample data monitored by SunSirs, from September 17 to September 24, the domestic ethyl alcohol market price fell from 6,437 RMB/ton to 6,375 RMB/ton. The price fell by 0.97% during the week, and the price fell by 4.42% month-on-month and the price increased by 2.00% year-on-year.

　　Analysis review

　　Corn prices weakened significantly. The shipments in Henan were average, and the quotations of manufactures continued to decline; Northeast enterprises had normal production and sufficient supply, but the downstream chemical industry continued to maintain a low level due to various factors. The market continued to weaken, the downstream stocking sentiment was not high, and the price weakened significantly.

　　In terms of raw materials, the domestic corn market declined weakly. Corn prices continued to weaken, downstream chemical industry started low, supply exceeded demand, and corn ethyl alcohol prices continued to weaken. The quotation of dried cassava in Thailand rose, but no new price was concluded. The start of cassava ethyl alcohol companies decreased, the downstream chemical industry stopped more, the demand was weak, and the price of cassava ethyl alcohol weakened significantly.

　　In terms of downstream products, the domestic ethyl acetate market continued its broad upward trend this week. The Shandong and Jiangsu factories had not yet recovered, and the tight market supply remained. In addition, the raw material acetic acid rose sharply, and the offer of ethyl acetate continued to rise. The high-end offer reached 11,000 RMB/ton during the week, a record high over the years.

　　Market outlook

　　In the short term, the price of raw corn is weakly consolidating. At present, the supply of ethyl alcohol production plants in major regions is declining, and downstream demand is still weak. The ethyl alcohol analysts of SunSirs predict that the domestic ethyl alcohol market will be downward weakly.