Domestic Ethanol Market Shows Strength (2026-09-09)

1. Today's Summary

• Ethanol transaction prices in Jilin (Northeast China) remained stable.
• Transaction prices in Heilongjiang (Northeast China) increased.
• Coal-based ethanol prices remained stable.
• Premium-grade ethanol prices in Henan increased.
• Ethanol prices in East China remained stable.
• Downstream chemical buyers made need-based purchases, and delivered prices rose.
• Downstream refinery prices in Shandong remained stable.

2. Spot Market Overview

Table 1 Summary of Domestic Ethanol Prices (Unit: CNY/ton)

Data source: Chempricehub

Today's Commentary: Taking the Heilongjiang region as the benchmark, 95% ethanol settled at 4,900-5,050 CNY/ton today. Ethanol prices in Jilin (Northeast China) remained stable, while transacted prices in Heilongjiang rose. Contract orders were being shipped and delivered prices increased; one line at the Jixian facility resumed operations, while the Huanan unit remained shut down. On the fuel ethanol front, plant operations were stable, with some major suppliers purchasing only for essential needs. Premium-grade ethanol prices in Henan rose, as plants carry no inventories and downstream buyers purchase on a need-only basis. Ethanol prices in East China remained stable, with downstream chemical buyers purchasing for essential needs and delivered prices rising. Coal-based ethanol prices were stable, with orders being shipped. Delivered prices for downstream users in Shandong remained stable.

3. Production Updates

Today, ethanol capacity utilization held at 48.17%. Edible ethanol operations: Hongzhan's Jixian line in Heilongjiang resumed operations, while the Huanan unit was shut down; Zhongke Gelin is in production, Shenglong unit shut down; Wanli ethanol in production; Dongfeng in Jilin shut down; Fukang unit in production; Yushu unit in production; Xintianlong unit in production; Inner Mongolia Baiyecheng unit in production; Henan Hanyong unit in production; Huaxing unit in production; Houyuan unit in production; Sichuan Hongzhan shut down; Shandong Qufeng in production; in East China, Huating, Longhe, Guannan Xinguan, and Romate were shut down; Anhui Wanshen in production; COFCO Fuel Ethanol (Anhui) in production; COFCO Zhaodong in production; SDIC Jidong in production; Hailun Bio in production; and Tieling in production. Today, the profit for 95% corn ethanol in Heilongjiang was -339.82 CNY/ton.

4. Price Forecast

Domestic ethanol prices are expected to remain stable-to-firm in the short term. Prices in Northeast China are stable, with contract orders being shipped; freight rates are rising, lifting delivered prices. East China prices are stable-to-firm, with chemical buyers purchasing for essential needs. Henan prices are stable, and plants face no inventory pressure. Coal-based ethanol prices are stable, with orders being shipped. Fuel ethanol prices transacted with major suppliers are stable, with orders being shipped.

5. Related Product Developments

1. Dried cassava chips: On September 9, Thailand dried cassava chips were quoted at USD 245/ton FOB (Bangkok), and Vietnam dried cassava chips at USD 245/ton CNF.

2. Corn: The volume of new-season corn coming onto the market is gradually increasing; however, demand currently appears somewhat subdued. Market attention should remain on new-crop corn arrivals, and a sharp rally in new-crop corn prices in the short term is unlikely.

3. Ethyl acetate: Ethyl acetate prices in East China rose by 115 CNY/ton, trading at 6,000-6,200 CNY/ton ex-works on a cash basis. Ongoing geopolitical instability continues to support market sentiment. Producers have successively raised offers, midstream and downstream traders are purchasing as needed, and market trading sentiment remains moderate.

6. Data Calendar

Table 2 Domestic Ethanol Data Overview

Data source: Chempricehub

Notes:

1. ↓/↑ denote significant fluctuations, highlighting metrics with a change of more than ±3%.
2. ↗/↘ denote narrow fluctuations, highlighting metrics with a change within 0-3% (in absolute terms).