I. Key Points
Core Logic:
II. Price Table
Unit: Yuan/ton, USD/bbl
Chempricehub Ethanol & Fuel Ethanol Products Morning Report
| Product | Region | 2026/9/21 | 2026/9/19 | Change | Remarks |
|---|---|---|---|---|---|
| Crude Oil | WTI | 95.78 | 100.3 | -4.52 | |
| Brent | 100.34 | 103.87 | -3.53 | ||
| Domestic Gasoline Guide Price (89#) | 8475 | 8475 | Shandong | ||
| Dried Cassava Chips | Thailand | 245-245 | 245-245 | FOB, USD/ton | |
| Delivered Plant Cost | 1993-1993 | 1993-1993 | East China, Yuan/ton | ||
| Corn (Delivered Plant) | Heilongjiang | 2088-2140 | 2088-2140 | Heilongjiang | |
| Jilin | 2170-2270 | 2170-2270 | Jilin | ||
| Henan | 2150-2160 | 2150-2160 | Jiaozuo dry grain, 14% moisture | ||
| Shandong | 2226-2226 | 2226-2226 | Weifang dry grain, 14% moisture | ||
| Standard Grade | Heilongjiang (East) | 4900-5100 | 4900-5100 | Corn-based | |
| Heilongjiang (West) | 5000-5150 | 5000-5150 | Corn-based | ||
| Jilin | 5100-5200 | 5100-5200 | Corn-based | ||
| Shandong | - | - | Cassava-based, Ex-factory | ||
| Shandong | 5500-5550 | 5470-5550 | +30/0 | Wheat-based | |
| North Jiangsu | 5650-5650 | 5650-5650 | Cassava-based | ||
| South Jiangsu | 5650-5700 | 5650-5700 | Cassava-based, Ex-factory | ||
| Anhui | 5700-5750 | 5700-5750 | Grain/Cassava-based | ||
| Guangxi | 5700-5800 | 5700-5800 | Molasses/Cassava-based | ||
| Premium Grade | Heilongjiang | 5000-5150 | 5000-5150 | East/West, Corn-based | |
| Jilin | 5250-5450 | 5250-5450 | Corn-based | ||
| Shandong | 5550-5600 | 5520-5600 | +30/0 | Wheat-based | |
| North Jiangsu | 5650-5650 | 5650-5650 | |||
| Henan | 5550-5570 | 5550-5570 | Corn-based | ||
| Anhydrous Ethanol | Heilongjiang (Standard) | 5700-5850 | 5700-5850 | Corn-based | |
| Heilongjiang (Electronic Grade) | 5950-6000 | 5950-6000 | Corn-based | ||
| Jilin (Standard) | 5850-5900 | 5850-5900 | Corn-based, mainly low-end transactions | ||
| Jilin (Electronic Grade) | 5920-5950 | 5920-5950 | Corn-based, mainly low-end transactions | ||
| Henan (Standard) | 6200-6200 | 6200-6200 | Corn-based | ||
| Henan (Electronic Grade) | 6250-6250 | 6250-6250 | Corn-based, no stock available | ||
| North Jiangsu | 6400-6450 | 6400-6450 | Cassava-based | ||
| Anhui | 6400-6450 | 6400-6450 | Grain/Cassava-based | ||
| Guangxi | 6500-6600 | 6500-6600 | Cassava-based | ||
| Port | Jinzhou Port | 5350-5450 | 5350-5450 | Standard grade, Corn-based | |
| Fuel Ethanol | Heilongjiang (East) | 6100-6198 | 6100-6198 | High end is delivered price to Heilongjiang | |
| Heilongjiang (West) | 6100-6198 | 6100-6198 | High end is delivered price to Heilongjiang | ||
| Liaoning | 6426-6426 | 6426-6426 | Delivered price to Liaoning | ||
| Jilin | 6349-6349 | 6349-6349 | Delivered price to Jilin | ||
| Panjin Independent Refinery (Delivered) | - | - | |||
| Shandong Independent Refinery (Delivered) | 6050-6080 | 6100-6100 | -50/-20 | Delivered price | |
| Synthetic/Coal-based Ethanol | Shaanxi Auction Start | 5750 | 5800 | -50 | Online auction starting price |
| Anhui Auction Start | 6010 | 6010 | Online auction starting price | ||
| Henan Standard | 6100 | 6100 | Quoted price, transaction negotiable | ||
| Henan High-end | - | - | Shut down | ||
| Shandong | 6180 | 6180 | Quoted price, transaction negotiable | ||
| Hunan | 6150 | 6150 | Quoted price, transaction negotiable | ||
| Hebei | 6300 | 6300 | Quoted price, transaction negotiable | ||
| Hubei | 6180 | 6180 | Quoted price, transaction negotiable | ||
| Guangdong | 6550 | 6550 | Quoted price, transaction negotiable | ||
| Ethyl Acetate | East China (Self-pickup) | 6450-6550 | 6450-6550 | ||
| MTBE | Shandong (Self-pickup) | 8000-8000 | 7950-8050 | +50/-50 | |
| DDGS | Heilongjiang | 2180-2210 | 2180-2210 | ||
| Jilin | 2260-2380 | 2260-2380 | |||
| Henan | 2300-2300 | 2300-2300 | |||
| Freight Tracking | West Heilongjiang-Shandong | 540-580 | 540-580 | Standard Grade Ethanol | |
| Henan-Shandong | 100-200 | 100-200 | |||
| East Heilongjiang-Shandong | 460-500 | 460-500 | Standard Grade Ethanol | ||
| Northwest-Shandong | 270-310 | 270-310 | |||
| Mengzhou-Chengdu | 360-390 | 360-390 | Return empty trucks are relatively cheap |
III. Data Table
| Data Type | This Week | Last Week | Current Period Expectation |
|---|---|---|---|
| Cassava Ethanol Profit | -518.8 | -518.8 | ↗ |
| Corn Ethanol Profit | -138.75 | -138.75 | ↗ |
| Coal-based Ethanol Profit | 300 | 300 | ↗ |
| Remarks: 1. Cassava ethanol profit refers to production profit for cassava ethanol in East China/North Jiangsu market. 2. Corn ethanol profit refers to production profit for corn ethanol in Northeast Heilongjiang market. 3. Molasses ethanol profit refers to production profit for molasses ethanol in Southern markets. |
Unit: Yuan/ton
IV. Market Outlook
Short-term domestic ethanol prices are expected to show regional trends. In Northeast China, prices remain stable to slightly strong due to contract order shipments, low factory inventories, and rising freight costs leading to high delivered prices. In East China, prices remain stable to slightly strong driven by rigid chemical industry demand and rising delivered prices. In Henan, prices remain stable to slightly weak due to limited downstream demand. Coal-based ethanol prices remain stable or weaken regionally. Fuel ethanol prices maintain a steady trend, with major suppliers ensuring supply.
| Data | Release Date | Current Period Data | Trend Expectation |
|---|---|---|---|
| Ethanol Operating Rate | Thursday 15:00 PM | 59.19% | ↗ |
| Ethyl Acetate Operating Rate | Thursday 15:00 PM | 51.08% | ↗ |
| Remarks: 1. ↑↓ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%. 2. ↗↘ indicates narrow fluctuation, highlighting data with changes within 0-3%. |
Chempricehub Ethanol & Fuel Ethanol Products Morning Report
| Product | Region | 2025/10/28 | 2025/10/27 | Change | Remarks |
|---|---|---|---|---|---|
| Crude Oil | WTI | 60.15 | 61.31 | -1.16 | |
| Brent | 64.4 | 65.62 | -1.22 | ||
| Domestic Gasoline Guide Price (89#) | 7969 | 7969 | Shandong | ||
| Dried Cassava Chips | Thailand | 212-215 | 212-215 | FOB, USD/ton | |
| Delivered Plant Cost | 1828-1856 | 1828-1856 | East China, Yuan/ton | ||
| Corn (Delivered Plant) | Heilongjiang | 1955-2002 | 1955-2002 | Heilongjiang | |
| Jilin | 2010-2090 | 2020-2090 | -10/0 | Jilin | |
| Henan | 2200-2210 | 2200-2210 | Jiaozuo dry grain, 14% moisture | ||
| Shandong | 2170-2170 | 2160-2160 | +10/+10 | Weifang dry grain, 14% moisture | |
| Standard Grade | Heilongjiang (East) | 4820-4830 | 4820-4830 | Corn-based | |
| Heilongjiang (West) | 4850-4900 | 4850-4900 | Corn-based | ||
| Jilin | 4950-5050 | 4950-5050 | Corn-based | ||
| Shandong | 5400-5400 | 5400-5400 | Cassava-based, Ex-factory | ||
| Shandong | 5150-5300 | 5150-5300 | Wheat-based | ||
| North Jiangsu | 5300-5300 | 5300-5300 | Cassava-based | ||
| South Jiangsu | 5400-5400 | 5400-5400 | Cassava-based, Ex-factory | ||
| Anhui | 5350-5350 | 5350-5350 | Grain/Cassava-based | ||
| Guangxi | 5650-5700 | 5650-5700 | Cassava-based | ||
| Premium Grade | Heilongjiang | 4900-4950 | 4900-4950 | East/West, Corn-based | |
| Jilin | 5100-5450 | 5100-5450 | Corn-based | ||
| Shandong | 5300-5350 | 5300-5350 | Wheat-based | ||
| North Jiangsu | 5380-5380 | 5380-5380 | |||
| Henan | 5230-5250 | 5230-5250 | Corn-based | ||
| Anhydrous Ethanol | Heilongjiang (Standard) | 5400-5450 | 5400-5450 | Corn-based | |
| Heilongjiang (Electronic Grade) | 5450-5500 | 5450-5500 | Corn-based | ||
| Jilin (Standard) | 5500-5850 | 5500-5850 | Corn-based, mainly low-end transactions | ||
| Jilin (Electronic Grade) | 5650-5950 | 5650-5950 | Corn-based, mainly low-end transactions | ||
| Henan (Standard) | 5900-5950 | 5900-5950 | Corn-based | ||
| Henan (Electronic Grade) | - | - | Corn-based, no stock available | ||
| North Jiangsu | 5900-5900 | 5900-5900 | Cassava-based | ||
| Anhui | 5900-5950 | 5900-5950 | Grain/Cassava-based | ||
| Guangxi | 6350-6450 | 6350-6450 | Cassava-based | ||
| Port | Jinzhou Port | 5100-5200 | 5100-5200 | Standard grade, Corn-based | |
| Fuel Ethanol | Heilongjiang (East) | 5200-5200 | 5200-5200 | ||
| Heilongjiang (West) | 5250-5250 | 5250-5250 | |||
| Liaoning | 5500-5500 | 5500-5500 | |||
| Jilin | 5400-5400 | 5400-5400 | |||
| Panjin Independent Refinery (Delivered) | - | - | |||
| Shandong Independent Refinery (Delivered) | 5250-5250 | 5260-5290 | -10/-40 | Delivered price | |
| Synthetic/Coal-based Ethanol | Shaanxi Auction Start | 5450 | 5450 | Online quote | |
| Anhui Auction Start | 5400 | - | Online auction starting price | ||
| Henan Standard | 5800 | 5800 | Hydrogenation of acetate esters | ||
| Henan High-end | - | - | Quote (unit shut down on the 13th) | ||
| Shandong | 5400 | 5460 | -60 | Quote | |
| Hunan | 5600 | 5600 | Quote | ||
| Hebei | 5600 | 5600 | Quote, transaction negotiable | ||
| Guangdong | - | - | |||
| Guangdong High-end | 5950 | 6100 | -150 | High-end, purity 99.9% | |
| Ethyl Acetate | East China (Self-pickup) | 5140-5200 | 5140-5200 | ||
| MTBE | Shandong (Self-pickup) | 4850-4950 | 4900-4950 | -50/0 | |
| DDGS | Heilongjiang | 2030-2150 | 2030-2150 | ||
| Jilin | 1950-2250 | 1950-2250 | |||
| Henan | 2330-2330 | 2330-2330 | |||
| Freight Tracking | West Heilongjiang-Shandong | 280-300 | 280-300 | Standard Grade Ethanol | |
| Henan-Shandong | 100-200 | 100-200 | |||
| East Heilongjiang-Shandong | 330-370 | 330-370 | Fuel Ethanol | ||
| Northwest-Shandong | 260-270 | 260-270 | |||
| Mengzhou-Chengdu | 250-300 | 250-300 | Return empty trucks are relatively cheap |
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