According to the Commodity Market Analysis System of Business Society, from October 30th to November 3rd, the domestic ethanol price dropped from 6895 yuan/ton to 6882 yuan/ton, with a weekly price drop of 0.18%, a month on month decrease of 3.23%, and a year-on-year increase of 1.96%. There is a significant difference in the operating rates of production enterprises across regions. However, downstream procurement is mainly in demand, inventory accumulation is severe, and the ethanol market is weak and organized, exacerbating the bearish sentiment in the market.

In terms of cost, after the National Day holiday, the market volume of corn in production areas has gradually increased, and the domestic corn market has seamlessly connected new and old markets. Downstream trading entities have a strong wait-and-see attitude, and manufacturers have gradually lowered the purchase price of corn after completing the acquisition task. The overall domestic corn market has entered a stage of strong supply and weak demand, and the overall price of corn market has come under pressure and fully declined. There are temporary bearish factors on the cost side of ethanol.

On the supply side, there is a significant difference in the operating rates of production enterprises in different regions, with 33.51% operating in East China and 87.28% operating in Northeast China; The operating rate in South China and Southwest China is 13.40%. A small number of enterprises have low inventory, while most enterprises have relatively high inventory. Shuntong Short Stop is about to resume. Hongzhan Huanan is recovering, and there is a possibility of Liaoyuan Jufeng starting up. The supply side of ethanol is influenced by bearish factors.

On the demand side, most ethyl acetate factories maintained normal production status in November. Other chemical products require procurement. The demand for Baijiu is average. The short-term demand for ethanol is mixed.

In the future market forecast, the cost is bearish and the supply and demand are weak. Ethanol analysts from Business Society predict that the domestic ethanol market may continue to be weak in the short term.