SunSirs: The Ethyl Alcohol Market Was Experiencing a Narrow Upward Trend

https://www.chemnet.com   Jul 29,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, from July 22nd to 26th, the domestic ethyl alcohol price rose from 5,995 RMB/ton to 6,012 RMB/ton, with a price increase of 0.29% and a year-on-year decrease of 9.59% during the period. Due to the suspension of some factory facilities and reduced inventory pressure, ethyl alcohol prices had slightly increased. The overall downstream purchasing was flat, demand remained sluggish, and trading volume was limited.

Analysis review

On the cost side, with high temperatures and frequent rainfall in the production area, traders were more proactive in shipping, short-term corn prices fluctuated to be weaker. The cost side had bearish factors for the market of ethyl alcohol.

On the supply side, there were significant differences in the operating rates of production enterprises in different regions; The 200,000 ton coal to ethyl alcohol plant in Liyuan, Henan had released products this week, which wre divided into fuel grade anhydrous and high-end anhydrous products; Heilongjiang Hongzhan Bayan Factory stopped feeding on July 24th and began maintenance, with an expected duration of 20 days; SDIC Yushu Factory underwent maintenance on July 24th, with an expected maintenance period of one month; Henan Houyuan equipment experienced a short shutdown. The supply side of ethyl alcohol had favorable factors for the market.

Demand side, Baijiu consumption was in off-season; Methyl ethyl ester was operating at full capacity at Hubei Haoke plant this week; After the restart of ethyl acetate Yankuang in Lunan, it stopped again, the Baichuan unit stopped, and the Taixing Jinjiang unit stopped briefly before restarting. The loads of Jinyimeng, Huayi, and Ruibai units all fluctuated. Ethyl alcohol demand had bearish factors for the market in the short term.

Market outlook

The negative impact of cost and sluggish demand had hindered market shipments. The ethyl alcohol analyst from SunSirs predicts that the short-term domestic ethyl alcohol market will be mainly consolidated to be weaker.

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