SunSirs: The Ethyl Alcohol Market Was Weakly Sorted out
July 24 2023 09:42:27 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the domestic ethyl alcohol market was in a weak state. From July 17th to 21st, the domestic ethyl alcohol price fell from 6,725 RMB/ton to 6,687 RMB/ton, with a weekly price drop of 0.56%, a month on month increase of 2.88%, and a year-on-year decrease of 6.34%. After the price boost, high-end transactions were limited, and demand remained stable in short term. Cost support was weak, and the ethyl alcohol market returned to calm after rising.
Analysis review
On the cost side, the domestic corn market was mainly at a high level of consolidation. On July 21, the benchmark price for corn of SunSirs was 2,777.14 RMB/ton, an increase of 0.62% compared to the beginning of this month (2,760.00 RMB/ton). Ther were temporary positive factors in the cost of ethyl alcohol.
On the supply side, there was currently no significant fluctuation in the domestic ethyl alcohol supply side: Hongzhan Laha's load had been boosted, Shenglong was parking, Jilin Fukang, and Tianyu had plans for maintenance. The ethyl alcohol supply was mixed.
On the demand side, there will be a slight reduction in production in the chemical industry in the short term, but the demand loss is limited, and demand mainly is stable in the short term. The demand for Baijiu was weak, and the short-term demand for ethyl alcohol was stable.
Market outlook
Cost support and supply support weakened, and demand remained stable. Ethyl alcohol analysts from SunSirs predict that in the short term, the domestic ethanol market will be mainly sorted out on a wait-and-see basis.
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