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SunSirs: Ethyl Alcohol Market Was Sorted out in shock

https://www.chemnet.com   Nov 21,2022 SunSirs
According to the sample data monitored by SunSirs, from November 11 to 18, the domestic ethyl alcohol market was slightly sorted out. At the beginning of the week, the average price of domestic ethyl alcohol producers remained at 6,725 RMB/ton, and at the end of the week, it reached 6,712 RMB/ton. The price fell 0.19% within the week, 0.92% month on month, and 3.76% year on year.

Analysis review

The domestic ethyl alcohol market continued to be dominated by weak transactions, the market atmosphere in various regions continued to be cold, and some factories increased prices, but the actual transactions were general. In some regions, the unit start-up load was relatively high, the demand side remained low, and the domestic ethyl alcohol market continued to operate at a low level in the short term.

In terms of raw materials and costs, SunSirs monitored that the domestic corn market price continued to rise, rising 0.60% from 2,812 RMB/ton at the beginning of the week to 2,829 RMB/ton at the end of the week.

From the perspective of downstream products, the market of EA in the downstream was weak and difficult to change. Most traders followed the market and took their goods. The downstream had an obvious mentality of stabilizing, and their enthusiasm for replenishment was not high. SunSirs monitored that the price of EA remained at 6,933 RMB/ton at the beginning of the week, and dropped to 6,835 RMB/ton at the weekend, with a 1.41% drop in the cycle.

Market outlook

In the short term, the price of corn will be sort out at a high level, the downstream EA will operate weakly and stably, and the contradiction between supply and demand will be strong. The ethyl alcohol analysts of SunSirs predict that the domestic ethyl alcohol market will be weak in the short term.
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