I. Key Points
9/17: Various efforts to ease Middle East tensions, combined with the Federal Reserve's interest rate hike boosting the US dollar exchange rate, led to a decline in international crude oil prices. NYMEX WTI October contract fell $3.40/bbl to $102.43 (-3.21% DoD); ICE Brent November contract fell $2.92/bbl to $105.83 (-2.69% DoD). China INE crude oil futures contract 2611 rose by CNY 2.2 to CNY 838.4/bbl during the day session but dropped by CNY 33.6 to CNY 804.8/bbl in the night session.
Core Logic:
II. Price List
Unit: CNY/ton, USD/bbl
Chempricehub Ethanol & Fuel Ethanol Products Morning Report
| Product | Region | 2026/9/17 | 2026/9/16 | Change | Remarks |
|---|---|---|---|---|---|
| Crude Oil | WTI | 102.43 | 105.75 | -3.4 | |
| Brent | 105.83 | 108.75 | -2.92 | ||
| Domestic Gasoline Guidance Price (89#) | 8475 | 8475 | Shandong | ||
| Dried Cassava Chips | Thailand | 245-245 | 245-245 | FOB, USD/ton | |
| Delivered Cost Equivalent | 2025-2025 | 2025-2025 | East China, CNY/ton | ||
| Corn (In-factory) | Heilongjiang | 2088-2140 | 2088-2140 | Heilongjiang | |
| Jilin | 2170-2270 | 2180-2270 | -10/0 | Jilin | |
| Henan | 2190-2200 | 2190-2200 | Jiaozuo dry grain, 14% moisture | ||
| Shandong | 2238-2238 | 2244-2244 | -6/-6 | Weifang dry grain, 14% moisture | |
| Standard Grade | Heilongjiang (East) | 4900-5100 | 4900-5100 | Corn-based | |
| Heilongjiang (West) | 4950-5150 | 4950-5150 | Corn-based | ||
| Jilin | 5100-5170 | 5100-5170 | Corn-based | ||
| Shandong | - | - | Cassava-based, ex-factory | ||
| Shandong | 5420-5550 | 5420-5550 | Wheat-based | ||
| Northern Jiangsu | 5600-5600 | 5600-5600 | Cassava-based | ||
| Southern Jiangsu | 5650-5700 | 5650-5700 | Cassava-based, ex-factory | ||
| Anhui | 5650-5700 | 5650-5700 | Grain/Cassava-based | ||
| Guangxi | 5700-5800 | 5700-5800 | Molasses/Cassava-based | ||
| Premium Grade | Heilongjiang | 5000-5150 | 5000-5150 | East/West regions, corn-based | |
| Jilin | 5200-5450 | 5200-5450 | Corn-based | ||
| Shandong | 5470-5600 | 5470-5550 | Wheat-based | ||
| Northern Jiangsu | 5650-5650 | 5650-5650 | |||
| Henan | 5510-5530 | 5510-5530 | Corn-based | ||
| Anhydrous Ethanol | Heilongjiang (Standard) | 5700-5850 | 5700-5850 | Corn-based | |
| Heilongjiang (Electronic Grade) | 5950-6000 | 5950-6000 | Corn-based | ||
| Jilin (Standard) | 5850-5850 | 5850-5850 | Corn-based, transactions mainly at low end | ||
| Jilin (Electronic Grade) | 5900-5920 | 5900-5920 | Corn-based, transactions mainly at low end | ||
| Henan (Standard) | 6150-6150 | 6150-6150 | Corn-based | ||
| Henan (Electronic Grade) | 6250-6250 | 6250-6250 | Corn-based, no stock currently | ||
| Northern Jiangsu | 6400-6450 | 6400-6450 | Cassava-based | ||
| Anhui | 6400-6450 | 6400-6450 | Grain/Cassava-based | ||
| Guangxi | 6500-6600 | 6500-6600 | Cassava-based | ||
| Port | Jinzhou Port | 5350-5450 | 5350-5450 | Standard grade, corn-based | |
| Fuel Ethanol | Heilongjiang (East) | 6100-6198 | 6100-6198 | High-end price is delivered to Heilongjiang | |
| Heilongjiang (West) | 6100-6198 | 6100-6198 | High-end price is delivered to Heilongjiang | ||
| Liaoning | 6426-6426 | 6426-6426 | Delivered price in Liaoning | ||
| Jilin | 6349-6349 | 6349-6349 | Delivered price in Jilin | ||
| Panjin Independent Refinery (Delivered) | - | - | |||
| Shandong Independent Refinery (Delivered) | 6030-6060 | 6030-6060 | Delivered price | ||
| Synthetic/Coal-based Ethanol | Shaanxi Starting Bid | 5800 | 5800 | Online starting bid price | |
| Anhui Starting Bid | 6010 | 6010 | Online starting bid price | ||
| Henan Standard | 6100 | 6100 | Offer, transaction negotiable | ||
| Henan High-end | - | - | Plant shutdown | ||
| Shandong | 6180 | 6180 | Offer, transaction negotiable | ||
| Hunan | 6150 | 6150 | Offer, transaction negotiable | ||
| Hebei | 6300 | 6300 | Offer, transaction negotiable | ||
| Hubei | 6180 | 6050 | +70 | Offer, transaction negotiable | |
| Guangdong | 6300 | 6300 | Offer, transaction negotiable | ||
| Ethyl Acetate | East China (Self-pickup) | 6300-6520 | 6400-6520 | -100/0 | |
| MTBE | Shandong (Self-pickup) | 7900-7920 | 7850-7900 | +50/+20 | |
| DDGS | Heilongjiang | 2180-2210 | 2180-2210 | ||
| Jilin | 2260-2380 | 2260-2380 | |||
| Henan | 2300-2300 | 2300-2300 | |||
| Freight Tracking | West Heilongjiang-Shandong | 470-520 | 470-520 | Standard grade ethanol | |
| Henan-Shandong | 100-200 | 100-200 | |||
| East Heilongjiang-Shandong | 420-460 | 420-460 | Standard grade ethanol | ||
| Northwest-Shandong | 270-310 | 270-310 | |||
| Mengzhou-Chengdu | 360-390 | 360-390 | Return empty trucks relatively cheap |
III. Data Table
| Data Type | This Week | Last Week | Expected Trend |
|---|---|---|---|
| Cassava Ethanol Profit | -518.8 | -518.8 | ↗ |
| Corn Ethanol Profit | -138.75 | -138.75 | ↗ |
| Coal-based Ethanol Profit | 300 | 300 | ↗ |
| Remarks: 1. Cassava ethanol profit refers to production profit for cassava ethanol in East China/Northern Jiangsu market. 2. Corn ethanol profit refers to production profit for corn ethanol in Northeast Heilongjiang market. 3. Molasses ethanol profit refers to production profit for molasses ethanol in southern markets. |
Unit: CNY/ton
IV. Market Outlook
In the short term, the domestic ethanol market is expected to maintain a stable-to-strong pattern. Prices in the Northeast region are rising steadily amid stability, with enterprises focusing on fulfilling contract orders. As the pre-holiday concentrated stocking phase approaches, coupled with rising freight rates, downstream delivered prices are increasing accordingly. The East China market is also trending stable-to-strong, supported by rigid demand from the chemical sector. The Henan region remains steady, with downstream buyers taking goods as needed. Coal-based ethanol offers are stable, executing order shipments. Fuel ethanol prices remain flat, fulfilling orders on demand.
| Data | Release Date | Current Data | Trend Forecast |
|---|---|---|---|
| Ethanol Operating Rate | Thursday 15:00 PM | 59.19% | ↗ |
| Ethyl Acetate Operating Rate | Thursday 15:00 PM | 51.08% | ↗ |
| Remarks: 1. ↑↓ indicates significant volatility, highlighting data dimensions with changes exceeding 3%. 2. ↗↘ indicates narrow-range fluctuations, highlighting data dimensions with changes within 0-3%. |
Chempricehub Ethanol & Fuel Ethanol Products Morning Report
| Product | Region | 2025/10/28 | 2025/10/27 | Change | Remarks |
|---|---|---|---|---|---|
| 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 | |
| Delivered Cost Equivalent | 1828-1856 | 1828-1856 | East China, CNY/ton | ||
| Corn (In-factory) | 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 | |
| Standard Grade | Heilongjiang (East) | 4820-4830 | 4820-4830 | Corn-based | |
| Heilongjiang (West) | 4850-4900 | 4850-4900 | Corn-based | ||
| Jilin | 4950-5050 | 4950-5050 | Corn-based | ||
| Shandong | 5400-5400 | 5400-5400 | Cassava-based, ex-factory | ||
| Shandong | 5150-5300 | 5150-5300 | Wheat-based | ||
| Northern Jiangsu | 5300-5300 | 5300-5300 | Cassava-based | ||
| Southern Jiangsu | 5400-5400 | 5400-5400 | Cassava-based, ex-factory | ||
| Anhui | 5350-5350 | 5350-5350 | Grain/Cassava-based | ||
| Guangxi | 5650-5700 | 5650-5700 | Cassava-based | ||
| Premium Grade | Heilongjiang | 4900-4950 | 4900-4950 | East/West regions, corn-based | |
| Jilin | 5100-5450 | 5100-5450 | Corn-based | ||
| Shandong | 5300-5350 | 5300-5350 | Wheat-based | ||
| Northern Jiangsu | 5380-5380 | 5380-5380 | |||
| Henan | 5230-5250 | 5230-5250 | Corn-based | ||
| Anhydrous Ethanol | Heilongjiang (Standard) | 5400-5450 | 5400-5450 | Corn-based | |
| Heilongjiang (Electronic Grade) | 5450-5500 | 5450-5500 | Corn-based | ||
| Jilin (Standard) | 5500-5850 | 5500-5850 | Corn-based, transactions mainly at low end | ||
| Jilin (Electronic Grade) | 5650-5950 | 5650-5950 | Corn-based, transactions mainly at low end | ||
| Henan (Standard) | 5900-5950 | 5900-5950 | Corn-based | ||
| Henan (Electronic Grade) | - | - | Corn-based, no stock currently | ||
| Northern Jiangsu | 5900-5900 | 5900-5900 | Cassava-based | ||
| Anhui | 5900-5950 | 5900-5950 | Grain/Cassava-based | ||
| Guangxi | 6350-6450 | 6350-6450 | Cassava-based | ||
| Port | Jinzhou Port | 5100-5200 | 5100-5200 | Standard grade, corn-based | |
| 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 Refinery (Delivered) | - | - | |||
| Shandong Independent Refinery (Delivered) | 5250-5250 | 5260-5290 | -10/-40 | Delivered price | |
| Synthetic/Coal-based Ethanol | Shaanxi Starting Bid | 5450 | 5450 | Online quote | |
| Anhui Starting Bid | 5400 | - | Online starting bid price | ||
| Henan Standard | 5800 | 5800 | Acetate hydrogenation | ||
| Henan High-end | - | - | Quote (plant shut down on the 13th) | ||
| Shandong | 5400 | 5460 | -60 | Quote | |
| Hunan | 5600 | 5600 | Quote | ||
| Hebei | 5600 | 5600 | Quote, transaction negotiable | ||
| Guangdong | - | - | |||
| Guangdong High-end | 5950 | 6100 | -150 | High-end, purity 99.9% | |
| Ethyl Acetate | East China (Self-pickup) | 5140-5200 | 5140-5200 | ||
| MTBE | Shandong (Self-pickup) | 4850-4950 | 4900-4950 | -50/0 | |
| DDGS | Heilongjiang | 2030-2150 | 2030-2150 | ||
| Jilin | 1950-2250 | 1950-2250 | |||
| Henan | 2330-2330 | 2330-2330 | |||
| Freight Tracking | West Heilongjiang-Shandong | 280-300 | 280-300 | Standard grade ethanol | |
| Henan-Shandong | 100-200 | 100-200 | |||
| East Heilongjiang-Shandong | 330-370 | 330-370 | Fuel ethanol | ||
| Northwest-Shandong | 260-270 | 260-270 | |||
| Mengzhou-Chengdu | 250-300 | 250-300 | Return empty trucks relatively cheap |
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