Eased Supply Tightness of Spot Ethanol Resources in Heilongjiang

Eased Supply Tightness of Spot Ethanol Resources in Heilongjiang

The supply tightness of spot ethanol resources in Heilongjiang exacerbated after the National Day holidays for the shipments that were delivered to the ports in Heilongjiang increased somewhat. Furthermore, some distilleries shut down units for short-time maintenance, boosting market players’ bullish sentiments. Distilleries raised offers tentatively, driving slightly up the price. However, market players also predicted that the supply would go up recently, which weakened the bullish sentiment in some regions.           

Distilleries in Heilongjiang maintained a low stock level, and the supply tightness of spot resources still existed, given that some distilleries did not resume production after the annual scheduled maintenance. Thus, the price kept stable and even inched down, based on relatively demand steadiness. However, with the shipments that were delivered to the ports in Heilongjiang increasing somewhat recently, the price inched up. The recent closing price in eastern Heilongjiang remained in the range of RMB 4,850-4,900/mt (tax included).      

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