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SunSirs: Early Prediction of Domestic Ethyl Alcohol Market on October 13

October 13 2020 13:16:57     SunSirs (John)

Yesterday (October 12) the domestic ethyl alcohol market continued to rise. According to the sample data monitored by SunSirs, the domestic ethyl alcohol market price on October 9 was 6,325 RMB/ton, and the domestic ethyl alcohol market price on October 13 was 6,375 RMB/ton. The increase was 0.79%, the price rose 4.29% month-on-month, and the price rose 18.06% year-on-year.

In terms of enterprises, Henan Jiaozuo Heyang Alcohol Industrial Co., Ltd. has a stable plant with an annual output of 300,000/ton, and the ex-factory price of premium alcohol is 6,350 RMB/ton including tax. Guangxi Jinyuan Alcohol cassava alcohol production capacity of 150,000 tons/year is operating normally. At present, Guangxi general grade has increased by 130 RMB/ton to 6,480 RMB/ton, and Dongguan general grade has increased by 130 RMB/ton to 6,580 RMB/ton, including tax.

In terms of raw materials, corn prices continued to rise, while Thailand’s dried cassava prices remained high. As for the market, as of today (10.13), the domestic ethyl alcohol markets in Northeast, East China and Shandong have gone up; the corn ethyl alcohol in Sichuan has gone up; and the molasses ethyl alcohol in Yunnan has been at a high level.

Under the influence of high raw materials and low spot on the market, ethyl alcohol may rise. However, due to the current high prices, the downstream resistance to excessive prices will not rise too much. Ethyl alcohol analysts of SunSirs predict that the domestic ethyl alcohol market will be subject to high volatility this week.

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