According to the monitoring by the Business News Agency, the domestic ethanol market is in a weak state. From March 10th to 17th, the domestic ethanol price remained at a low level from 7171 yuan/ton to 7142 yuan/ton, with a decrease of 0.40% during the cycle, a year-on-year decrease of 1.19%, and a year-on-year decrease of 0.27%. Production enterprises in some regions have repeatedly lowered their prices, with an overall price adjustment range of around 150 yuan/ton. At the same time, downstream demand is flat, and traders are not moving fast. The short-term ethanol market has a weak focus.

On the cost side, the domestic corn market monitored by the Business Cooperative continued to be sluggish. On March 17th, the benchmark price of corn by the Business Cooperative was 2791.43 yuan/ton, a decrease of -0.61% compared to the beginning of this month (2808.57 yuan/ton). In March, the willingness of farmers in the production area to sell grain continued to increase, and the overall supply of domestic corn market was relatively loose. After the corn inventory of ports and deep processing enterprises was replenished to a certain extent, the purchase price of corn was slightly reduced, driving the domestic corn market price to continue to be weak. The cost side of ethanol is empty.

On the supply side, this week, the overall ethanol market started operating with stable load, and the main production area operated with high load and increased supply. Guannan device is shut down, Jinchanglin device is shut down, and Changxing and Maibohui in Southern Jiangsu are started up. The negative impact of ethanol supply increases.

On the demand side, the chemical industry just needs to purchase, and the ethyl acetate may be overhauled in March and April, so the demand for Baijiu is stable. Short term ethanol demand is bearish.

According to the future market forecast, the cost support is insufficient, and the downstream demand is mainly rigid. Ethanol analysts from the Business News Agency predict that the domestic ethanol market will run in a weak trend in the short term.