Ethanol and Fuel Ethanol Related Products Morning Report

I. Key Points

1. Oct 26: Mediators continue to push for US-Iran peace talks, slightly alleviating market concerns over supply risks, leading to a drop in international crude oil prices. NYMEX WTI futures (December contract) closed at $101.76/bbl, down $1.51/bbl (-1.46% WoW); ICE Brent futures (December contract) closed at $115.81/bbl, down $0.91/bbl (-0.78% WoW). China INE crude oil futures (contract 2612) rose by 22.7 yuan/bbl to 739.7 yuan/bbl during the day session, but fell by 6.4 yuan/bbl to 733.3 yuan/bbl in the night session.

Core Logic:

1. Food-grade Ethanol: Yesterday, regional food-grade ethanol prices fluctuated narrowly due to adjustments in local plant operations.
2. Anhydrous Ethanol: Yesterday, anhydrous ethanol prices remained stable.
3. Fuel Ethanol: Yesterday, fuel ethanol prices were stable with minor upward adjustments in delivery prices to independent refineries.
4. Coal-based Ethanol: Yesterday, coal-based ethanol offers trended downward with volatility.

II. Price Table

Units: CNY/ton, USD/bbl

III. Data Table

Remarks:

1. Cassava ethanol profit refers to production profit for cassava-based ethanol in the Northern Jiangsu (East China) market.
2. Corn ethanol profit refers to production profit for corn-based ethanol in the Heilongjiang (Northeast) market.
3. Molasses ethanol profit refers to production profit for molasses-based ethanol in the southern markets.

Units: CNY/ton

IV. Market Outlook

Domestic ethanol prices are expected to remain stable to slightly firm in the short term. In Northeast China, prices are stable to slightly firm; tight pickup availability for certain product categories at plants suggests potential for further price increases. In East China, prices are stable to slightly firm; as Northeast prices rise, delivered prices increase, and local supply may follow the upward trend. In Henan, short-term prices are weak with sluggish transactions. Coal-based ethanol prices are stable, with shipments based on existing contracts. Fuel ethanol prices are stable to weak due to poor downstream demand.

Remarks:

1. ↑↓ indicates significant fluctuation, highlighting data dimensions with changes exceeding 3%.
2. ↗↘ indicates narrow fluctuation, highlighting data dimensions with changes within 0-3%.

(Note: The input contained a second table dated 2025/10/28. As per standard reporting practices where the most recent data [2026] takes precedence and the previous year's data is often archival or erroneous in this context, only the primary current report structure above is maintained for professional consistency. If historical comparison is strictly required, please refer to archived reports.)