I. Market Focus
Core Logic
Edible ethanol: Yesterday, prices in the food-grade regular ethanol market consolidated within regional ranges amid changes in regional plant operations.
Anhydrous ethanol: Yesterday, anhydrous ethanol market prices held steady with regional consolidation.
Fuel ethanol: Yesterday, fuel ethanol market prices were stable, and intake prices at independent refineries held steady.
Coal-based ethanol: Yesterday, coal-based ethanol market offers remained stable.
II. Price Tables
Units: RMB/ton, USD/bbl
Chempricehub Morning Report: Ethanol and Fuel Ethanol Related Products
| Product | Region | 2026/9/7 | 2026/9/4 | Change | Notes |
|---|---|---|---|---|---|
| Crude oil | WTI | — | 91.48 | ||
| Brent | 97 | 96.28 | +0.72 | ||
| Domestic gasoline guidance price (89#) | 8475 | 8475 | Shandong | ||
| Dried cassava chips | Thailand | 245-245 | 245-245 | FOB, USD/ton | |
| Equivalent cost delivered to plant | 2025-2025 | 2025-2025 | East China, RMB/ton | ||
| Corn (delivered to plant) | Heilongjiang | 2100-2155 | 2100-2155 | Heilongjiang | |
| Jilin | 2180-2270 | 2180-2270 | Jilin | ||
| Henan | 2230-2240 | 2260-2280 | -30/-40 | Jiaozuo dry grain, 14% moisture | |
| Shandong | 2290-2290 | 2352-2352 | -62/-62 | Weifang dry grain, 14% moisture | |
| Regular grade | Heilongjiang (East) | 4900-5100 | 4900-5100 | Corn | |
| Heilongjiang (West) | 4950-5150 | 4950-5150 | Corn | ||
| Jilin | 5030-5170 | 5030-5170 | Corn | ||
| Shandong | 5500-5500 | 5500-5500 | Cassava, ex-works | ||
| Shandong | 5320-5450 | 5320-5450 | Wheat | ||
| Northern Jiangsu | 5500-5500 | 5500-5500 | Cassava | ||
| Southern Jiangsu | 5650-5700 | 5650-5700 | Cassava, ex-works | ||
| Anhui | 5550-5550 | 5550-5550 | Grain/cassava | ||
| Guangxi | 5700-5800 | 5700-5800 | Molasses/cassava | ||
| Premium grade | Heilongjiang | 5000-5150 | 5000-5150 | East/West regions, corn | |
| Jilin | 5200-5450 | 5200-5450 | Corn | ||
| Shandong | 5370-5500 | 5370-5500 | Wheat | ||
| Northern Jiangsu | 5600-5600 | 5600-5600 | |||
| Henan | 5350-5360 | 5350-5360 | Corn | ||
| Anhydrous ethanol | Heilongjiang (general) | 5700-5850 | 5700-5850 | Corn | |
| Heilongjiang (electronic grade) | 5950-6000 | 5950-6000 | Corn | ||
| Jilin (general) | 5800-5850 | 5800-5850 | Corn, mostly transacted at low end | ||
| Jilin (electronic grade) | 5900-5920 | 5900-5920 | Corn, mostly transacted at low end | ||
| Henan (general) | 6100-6100 | 6100-6100 | Corn | ||
| Henan (electronic grade) | 6200-6200 | 6200-6200 | Corn, no stock currently | ||
| Northern Jiangsu | 6300-6350 | 6300-6350 | Cassava | ||
| Anhui | 6350-6350 | 6350-6350 | Grain/cassava | ||
| Guangxi | 6500-6600 | 6500-6600 | Cassava | ||
| Port | Jinzhou Port | 5300-5400 | 5300-5400 | Regular grade, corn | |
| Fuel ethanol | Heilongjiang (East) | 6129-6229 | 6129-6229 | High-end price reflects delivery within Heilongjiang | |
| Heilongjiang (West) | 6129-6229 | 6129-6229 | High-end price reflects delivery within Heilongjiang | ||
| Liaoning | 6447-6447 | 6447-6447 | Delivered price in Liaoning | ||
| Jilin | 6340-6340 | 6340-6340 | Delivered price in Jilin | ||
| Panjin independent refineries (delivered) | — | — | |||
| Shandong independent refineries (delivered) | 6010-6010 | 6060-6060 | -50/-50 | Delivered price | |
| Synthetic/coal-based ethanol | Shaanxi auction start | 5800 | — | Online auction starting price | |
| Anhui auction start | 5980 | 5910 | +70 | Online auction starting price | |
| Henan regular | 6100 | 6100 | Quoted; transaction price negotiable | ||
| Henan high-end | — | — | Plant shut down | ||
| Shandong | — | 6100 | Quoted; transaction price negotiable | ||
| Hunan | 6050 | — | Quoted; transaction price negotiable | ||
| Hebei | 6300 | 6300 | Quoted; transaction price negotiable | ||
| Hubei | 6050 | 6000 | +50 | Quoted; transaction price negotiable | |
| Guangdong | 6300 | 6350 | -50 | Quoted; transaction price negotiable | |
| Ethyl acetate | East China (ex-works pickup) | 5900-6070 | 5850-6070 | +50/0 | |
| MTBE | Shandong (ex-works pickup) | 7430-7450 | 7350-7400 | +80/+50 | |
| DDGS | Heilongjiang | 2170-2220 | 2160-2220 | +10/0 | |
| Jilin | 2250-2350 | 2020-2350 | +230/0 | ||
| Henan | 2230-2230 | 2180-2180 | +50/+50 | ||
| Freight tracker | Heilongjiang West–Shandong | 470-520 | 470-520 | Regular grade ethanol | |
| Henan–Shandong | 100-200 | 100-200 | |||
| Heilongjiang East–Shandong | 420-460 | 420-460 | Regular grade ethanol | ||
| Northwest China–Shandong | 270-310 | 270-310 | |||
| Mengzhou–Chengdu | 360-390 | 360-390 | Empty return trucks are relatively cheap |
III. Data Tables
| Data Type | This Week | Last Week | Near-Term Outlook |
|---|---|---|---|
| Cassava ethanol profit | -518.8 | -518.8 | ↗ |
| Corn ethanol profit | -138.75 | -138.75 | ↗ |
| Coal-based ethanol profit | 300 | 300 | ↗ |
Notes:
Units: RMB/ton
IV. Market Outlook
Domestic ethanol prices are expected to remain stable-to-firm in the short term. In Northeast China, prices are stable; downstream buyers are purchasing on rigid demand; freight rates are rising, lifting delivered prices; Heilongjiang is stable-to-firm. In East China, prices are stable with moderate shipment volumes. In Henan, prices are stable with downstream purchasing on rigid demand. Coal-based ethanol prices are stable, with orders being shipped as scheduled. Fuel ethanol prices at major suppliers may ease slightly; plant inventories are not high and contract orders are being shipped.
| Data | Release Date | Current Data | Trend Forecast |
|---|---|---|---|
| Ethanol operating rate | Thursday 15:00 | 59.19% | ↗ |
| Ethyl acetate operating rate | Thursday 15:00 | 51.08% | ↗ |
Notes:
Chempricehub Morning Report: Ethanol and Fuel Ethanol Related Products
| Product | Region | 2025/10/28 | 2025/10/27 | Change | Notes |
|---|---|---|---|---|---|
| Crude oil | WTI | 60.15 | 61.31 | -1.16 | |
| Brent | 64.4 | 65.62 | -1.22 | ||
| Domestic gasoline guidance price (89#) | 7969 | 7969 | Shandong | ||
| Dried cassava chips | Thailand | 212-215 | 212-215 | FOB, USD/ton | |
| Equivalent cost delivered to plant | 1828-1856 | 1828-1856 | East China, RMB/ton | ||
| Corn (delivered to 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 | |
| Regular grade | Heilongjiang (East) | 4820-4830 | 4820-4830 | Corn | |
| Heilongjiang (West) | 4850-4900 | 4850-4900 | Corn | ||
| Jilin | 4950-5050 | 4950-5050 | Corn | ||
| Shandong | 5400-5400 | 5400-5400 | Cassava, ex-works | ||
| Shandong | 5150-5300 | 5150-5300 | Wheat | ||
| Northern Jiangsu | 5300-5300 | 5300-5300 | Cassava | ||
| Southern Jiangsu | 5400-5400 | 5400-5400 | Cassava, ex-works | ||
| Anhui | 5350-5350 | 5350-5350 | Grain/cassava | ||
| Guangxi | 5650-5700 | 5650-5700 | Cassava | ||
| Premium grade | Heilongjiang | 4900-4950 | 4900-4950 | East/West regions, corn | |
| Jilin | 5100-5450 | 5100-5450 | Corn | ||
| Shandong | 5300-5350 | 5300-5350 | Wheat | ||
| Northern Jiangsu | 5380-5380 | 5380-5380 | |||
| Henan | 5230-5250 | 5230-5250 | Corn | ||
| Anhydrous ethanol | Heilongjiang (general) | 5400-5450 | 5400-5450 | Corn | |
| Heilongjiang (electronic grade) | 5450-5500 | 5450-5500 | Corn | ||
| Jilin (general) | 5500-5850 | 5500-5850 | Corn, mostly transacted at low end | ||
| Jilin (electronic grade) | 5650-5950 | 5650-5950 | Corn, mostly transacted at low end | ||
| Henan (general) | 5900-5950 | 5900-5950 | Corn | ||
| Henan (electronic grade) | — | — | Corn, no stock currently | ||
| Northern Jiangsu | 5900-5900 | 5900-5900 | Cassava | ||
| Anhui | 5900-5950 | 5900-5950 | Grain/cassava | ||
| Guangxi | 6350-6450 | 6350-6450 | Cassava | ||
| Port | Jinzhou Port | 5100-5200 | 5100-5200 | Regular grade, corn | |
| 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 refineries (delivered) | — | — | |||
| Shandong independent refineries (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 regular | 5800 | 5800 | Ethyl acetate hydrogenation | ||
| Henan high-end | — | — | Quoted (plant shut down on the 13th) | ||
| Shandong | 5400 | 5460 | -60 | Quoted | |
| Hunan | 5600 | 5600 | Quoted | ||
| Hebei | 5600 | 5600 | Quoted; transaction price negotiable | ||
| Guangdong | — | — | |||
| Guangdong high-end | 5950 | 6100 | -150 | High-end, mass fraction 99.9% | |
| Ethyl acetate | East China (ex-works pickup) | 5140-5200 | 5140-5200 | ||
| MTBE | Shandong (ex-works pickup) | 4850-4950 | 4900-4950 | -50/0 | |
| DDGS | Heilongjiang | 2030-2150 | 2030-2150 | ||
| Jilin | 1950-2250 | 1950-2250 | |||
| Henan | 2330-2330 | 2330-2330 | |||
| Freight tracker | Heilongjiang West–Shandong | 280-300 | 280-300 | Regular grade ethanol | |
| Henan–Shandong | 100-200 | 100-200 | |||
| Heilongjiang East–Shandong | 330-370 | 330-370 | Fuel ethanol | ||
| Northwest China–Shandong | 260-270 | 260-270 | |||
| Mengzhou–Chengdu | 250-300 | 250-300 | Empty return trucks are relatively cheap |
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