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SunSirs: Ethyl Alcohol Market Was Actively Driving Up

September 14 2023 13:55:39     SunSirs (John )

Price trend

According to the Commodity Market Analysis System of SunSirs, from September 6th to 13th, the domestic ethyl alcohol price increased from 6,825 RMB/ton to 6,912 RMB/ton, with a weekly price increase of 1.28%, a month on month increase of 2.03%, and a year-on-year increase of 2.98%. In some regions, the inventory of manufacturers was relatively low, and the market atmosphere as gradually increasing driven by edible grade ethyl alcohol. At the same time, the raw material corn was driving up the domestic ethyl alcohol market, and the ethyl alcohol market was actively driving up the market.

Analysis review

On the cost side, corn prices were operating at a high level. Before a large number of new season corn being launched in China, surplus inventory continued to decline, and there was a shortage of spot trading channels. Downstream enterprises had stock demand, which continued to boost corn prices. There were temporary positive factors in the cost of ethyl alcohol.

On the supply side, the majority of production enterprises in various regions parked their facilities, and the operating rate of normally operating enterprises remained at 30-40%. A small number of enterprises had low inventory, while most enterprises had relatively high inventory. The supply side of ethyl alcohol was bearish for the market.

On the demand side, downstream chemicals purchased just in needed. With the advent of the Double Festival, the stock of Baijiu had increased. The demand side had positive factors for ethyl alcohol int the short term.

Market outlook

Costs were high and supply and demand gamed, ethyl alcohol analysts at SunSirs predict that the domestic ethyl alcohol market may be stronger in the short term.

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