According to the Commodity Market Analysis System of Shengyi Society, the domestic ethanol market remained relatively low in November. From November 1st to 29th, the average price of domestic ethanol producers fell from 5575 yuan/ton to 5450 yuan/ton, with a price drop of 2.24% during the period and a year-on-year price drop of 19.71%.

In the first half of the month, the domestic ethanol market remained stable, with major factories accompanying shipments and a decent trading atmosphere. Shipments were average, and downstream shipments were mainly accompanied by fixed procurement. In mid month, the domestic ethanol market experienced a weak decline, with some previously shut down maintenance facilities resuming production and the operating load gradually increasing, resulting in an increase in spot supply; The prices of raw corn production areas are fluctuating, but the demand side support is flat, with accompanying replenishment being the main trend, and the ethanol market price is weak and stagnant. At the end of the month, the domestic ethanol market experienced a narrow decline due to the impact of snowfall. Logistics in some areas were hindered, shipments were not smooth, and there was a significant increase in spot supply, resulting in significant inventory pressure for enterprises.

In terms of cost, domestic corn prices are running weakly, grain source toxins are unstable, downstream enterprises have low purchasing enthusiasm, and there are only a few transactions at ports with low transaction prices.

On the supply side, the supply in various regions remains stable, and the operating load is gradually increasing. In some areas, there may be an increase in spot supply. There are hardly any favorable factors in the supply of ethanol.

Demand side, demand side Baijiu consumption support is acceptable; Methyl ethyl ester maintains stable purchasing volume for anhydrous materials; There is not much change in the production of ethyl acetate. The impact of short-term ethanol demand is mostly stable.

The future forecast shows that there is significant inventory pressure on enterprises and limited support from the demand side. Ethanol analysts from Shengyi Society predict that there is still room for a short-term downturn in the domestic ethanol market.