Ethanol and Fuel Ethanol Market Morning Report

I. Key Focus Points

September 29: Mediators including Qatar continue to push for US-Iran peace talks. Coupled with the partial restoration of Saudi crude oil supply, international oil prices declined.
- NYMEX WTI Crude Oil Futures (November contract): Closed at $89.38/barrel, down $3.22/barrel (-3.48% WoW).
- ICE Brent Crude Oil Futures (November contract): Closed at $102.59/barrel, down $2.69/barrel (-2.56% WoW).
- China INE Crude Oil Futures (November 2026 contract): Down 17.2 yuan/barrel to 716.9 yuan/barrel; night session down 11.7 yuan/barrel to 705.2 yuan/barrel.

Core Logic:

Edible Standard-Grade Ethanol: Yesterday, regional market prices fluctuated due to plant adjustments. Prices trended slightly upward across regions.
Anhydrous Ethanol: Yesterday, market prices showed a slight upward trend amid regional fluctuations.
Fuel Ethanol: Yesterday, market prices remained stable. Independent refineries maintained stable procurement prices.
Coal-based Ethanol: Yesterday, market offers remained stable.

II. Price Table

Unit: Yuan/ton, USD/barrel

Product	Region	2026/9/29	2026/9/28	Change	Remarks
Crude Oil	WTI	89.38	92.6	-3.22
	Brent	102.59	105.28	-2.69
Domestic Gasoline Guidance Price (89#)		8475	8475		Shandong
Cassava Chips	Thailand	245-245	245-245		FOB, USD/ton
Delivered Cost Equivalent		1993-1993	1993-1993		East China, Yuan/ton
Corn (Plant Intake)	Heilongjiang	2028-2058	2028-2058		Heilongjiang
	Jilin	2140-2270	2140-2270		Jilin
	Henan	2200-2210	2180-2190	+20/+20	Jiaozuo dry grain, 14% moisture
	Shandong	2180-2180	2180-2180		Weifang dry grain, 14% moisture
Standard Grade	Heilongjiang (East)	4900-5100	4900-5100		Corn-based
	Heilongjiang (West)	5000-5150	5000-5150		Corn-based
	Jilin	5150-5230	5150-5230		Corn-based
	Shandong	-	-		Cassava, ex-factory
	Shandong	5500-5550	5500-5550		Wheat-based
	Northern Jiangsu	5700-5700	5700-5700		Cassava-based
	Southern Jiangsu	5700-5750	5650-5700	+50/+50	Cassava, ex-factory
	Anhui	5700-5750	5700-5750		Grain/Cassava
	Guangxi	5700-5800	5700-5800		Molasses/Cassava
Premium Grade	Heilongjiang	5000-5150	5000-5150		East/West, Corn-based
	Jilin	5280-5450	5280-5450		Corn-based
	Shandong	5550-5600	5550-5600		Wheat-based
	Northern Jiangsu	5750-5750	5750-5750
	Henan	5590-5600	5590-5600		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, mostly lower-end transactions
	Jilin (Electronic Grade)	5920-5950	5920-5950		Corn-based, mostly lower-end transactions
	Henan (Standard)	6250-6250	6250-6250		Corn-based
	Henan (Electronic Grade)	6300-6300	6300-6300		Corn-based, no stock currently
	Northern Jiangsu	6450-6500	6450-6500		Cassava-based
	Anhui	6450-6500	6450-6500		Grain/Cassava
	Guangxi	6500-6600	6500-6600		Cassava-based
Port	Jinzhou Port	5450-5500	5450-5500		Standard grade, Corn-based
Fuel Ethanol	Heilongjiang (East)	5800-6129	6100-6198	-300/-69	High end is delivered price in Heilongjiang
	Heilongjiang (West)	5800-6129	6100-6198	-300/-69	High end is delivered price in Heilongjiang
	Liaoning	6000-6426	6000-6426		Delivered price in Liaoning
	Jilin	6240-6349	6240-6349		Delivered price in Jilin
	Panjin Refinery (Delivered)	-	-
	Shandong Refinery (Delivered)	6130-6160	6130-6160		Delivered price
Synthetic/Coal-based Ethanol	Shaanxi Starting Bid	5750	5750		Online starting bid price
	Anhui Starting Bid	6030	6010	+20	Online starting bid price
	Henan Standard	6100	6100		Quote, transaction negotiable
	Henan High End	-	-		Plant shutdown
	Shandong	6180	6180		Quote, transaction negotiable
	Hunan	6050	6050		Quote, transaction negotiable
	Hebei	6300	6300		Quote, transaction negotiable
	Hubei	6100	6100		Quote, transaction negotiable
	Guangdong	6550	6550		Quote, transaction negotiable
Ethyl Acetate	East China (Self-pickup)	6600-6670	6500-6600	+100/+70
MTBE	Shandong (Self-pickup)	7970-8030	8000-8010	-30/+20
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 cheaper

III. Data Table

Data Type	This Week	Last Week	Current Trend
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 margin for cassava ethanol in East China/Northern Jiangsu. 2. Corn ethanol profit refers to production margin for corn ethanol in Northeast Heilongjiang. 3. Molasses ethanol profit refers to production margin for molasses ethanol in southern markets.

Unit: Yuan/ton

IV. Market Outlook

Domestic ethanol prices are expected to remain stable in the short term.

Northeast: Prices are stable. Pre-holiday stocking is nearing its end, with shipments fulfilling earlier orders.
East China: Prices are stable. Chemical industry orders are being shipped, leading to an increase in delivered prices.
Henan: Prices are stable but weak. Limited downstream demand has led to increased inventory.
Coal-based Ethanol: Prices are stable, with contract orders being shipped.
Fuel Ethanol: Prices are maintaining a steady trend as major suppliers ensure supply.

Data	Release Date	Current Value	Trend Forecast
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 dimensions with changes within 0-3%.

Ethanol and Fuel Ethanol Related Products Morning Report (Historical Reference)

Note: The following table appears to contain historical data from October 2025, likely included for comparison or archival purposes.

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 Guidance Price (89#)		7969	7969		Shandong
Cassava Chips	Thailand	212-215	212-215		FOB, USD/ton
Delivered Cost Equivalent		1828-1856	1828-1856		East China, Yuan/ton
Corn (Plant Intake)	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, ex-factory
	Shandong	5150-5300	5150-5300		Wheat-based
	Northern Jiangsu	5300-5300	5300-5300		Cassava-based
	Southern Jiangsu	5400-5400	5400-5400		Cassava, ex-factory
	Anhui	5350-5350	5350-5350		Grain/Cassava
	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
	Northern 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, mostly lower-end transactions
	Jilin (Electronic Grade)	5650-5950	5650-5950		Corn-based, mostly lower-end transactions
	Henan (Standard)	5900-5950	5900-5950		Corn-based
	Henan (Electronic Grade)	-	-		Corn-based, no stock currently
	Northern Jiangsu	5900-5900	5900-5900		Cassava-based
	Anhui	5900-5950	5900-5950		Grain/Cassava
	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 Refinery (Delivered)	-	-
	Shandong Refinery (Delivered)	5250-5250	5260-5290	-10/-40	Delivered price
Synthetic/Coal-based Ethanol	Shaanxi Starting Bid	5450	5450		Online quote
	Anhui Starting Bid	5400	-		Online starting bid price
	Henan Standard	5800	5800		Acetate ester hydrogenation
	Henan High End	-	-		Quote (plant 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 cheaper

Cookie Preferences

Essential Cookies

Analytics Cookies

ChemPriceHub

Morning Market Update for the Ethanol Market