SunSirs: The Ethyl Alcohol Market Was Sorting out and Wait-and-see
November 08 2022 10:07:36 SunSirs (John)
Price trend
According to the sample data monitored by SunSirs, from October 31 to November 4, the domestic ethyl alcohol market was on the sidelines. At the beginning of the week, the average price of domestic ethyl alcohol producers remained at 6,762 RMB/ton, and at the end of the week, it reached 6,750 RMB/ton. The price fell 0.18% within the week, 0.18% month on month, and 0.37% year-on-year.
Analysis review
The price range of the domestic ethyl alcohol market was volatile, and it was difficult to improve the price in the short term, with a small downward trend as the main trend. The price of raw corn fluctuated and sort out, the starting load of downstream chemical acetate was stable, and the demand decreased. The unit face was in stable load consolidation, and the price of ethyl alcohol market was weak.
From the aspect of raw materials and cost, SunSirs monitored that the domestic corn market price was relatively strong, rising 0.20% from 2,801 RMB/ton at the beginning of the week to 2,807 RMB/ton at the end of the week.
From the perspective of downstream products, the operating rate of ethyl acetate in the downstream basically remained stable, and the price market was stable. SunSirs monitored that the price of ethyl acetate remained at 6,950 RMB/ton at the beginning and end of the week, with steady rise and fall.
Market outlook
In the short term, the price of corn is mainly stable, and the supply in the later period is increased, which may be weak. The downstream ethyl acetate operates weakly and stably. The ethyl alcohol analysts of SunSirs predicted that the domestic ethyl alcohol market would be weak in the short term.
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