From the supply chain side, Ammonia feedstock availability has remained sufficient during the period. Ammonia production levels in Northern China continue to be stable, and we continue to see consistent production in both Shandong and Hebei. In addition, ammonia production has been increased due to the restart of ammonia production plants in Anhui and Jiangsu. Recent changes due to emissions testing have resulted in some production losses in parts of Shaanxi; however, due to continued influxes to the northwest of China from alternate sources, no reasonable cost increase exists for TEA manufacturers despite continued lower inflows.
However, the Ethanol prices did not provide any long-lasting upward pressure as the price showcased a moderate decrement from past x weeks. China’s ethanol market continues to be challenged with an unprecedented imbalance of supply and demand within their domestic ethanol market. As of January xx, Heilongjiang (a province located in...
