According to the Commodity Market Analysis System of Shengyi Society, as of April 24th, the domestic ethanol price has fallen to 5930 yuan/ton, with a price drop of 0.27% during the cycle, a month on month drop of 0.67%, and a year-on-year increase of 12.52%. The domestic ethanol price is weak and declining, and factories have a strong willingness to ship, with a clear phenomenon of actively grabbing orders. Affected by the increase in freight rates, some factories have given up profits to the logistics sector. Downstream chemical companies only maintain essential procurement, resulting in a decrease in delivery prices.

On the cost side, the price of raw material corn first weakened and then strengthened. With the rise of temperature, grassroots farmers and traders have increased their enthusiasm for selling grain, leading to an increase in market supply. The cost of ethanol is influenced by favorable factors.
From the supply side, the main factories in Hebei and Henan regions are operating normally; The operating load of cassava ethanol factories in East China is not high. In terms of coal to ethanol production, the Yushen unit has a low load, while the Hunan and Hubei units continue to shut down, while production in other areas is normal. The supply of ethanol is affected by favorable factors.
On the demand side, downstream chemical production of ethyl acetate: overall production of ethyl acetate is 51.57%. There has been a recent replenishment situation, and other downstream chemical companies urgently need to replenish their inventory. Downstream Baijiu just needs to be purchased and will enter the off-season. The impact of ethanol demand is mixed.
According to future predictions, as corn inventories gradually decrease, there is a possibility of corn prices rising in the later stage, which will provide support for the cost side of ethanol. The ethanol analyst from Shengyi Society predicts that the ethanol market will mainly be consolidated.