Value indications in the Ulsan B-grade ethanol market stayed flat on Friday, floating in a thin trading session with a national holiday in China and markets closing in the US on Monday.
The plummeting Brazilian Real has been the focus of the week, falling 31% since the beginning of the year to its lowest levels since 2002, although after hitting new lows of 0.2621 early in the US trading day yesterday it drifted slightly higher, closing at 0.2674 against the US dollar. Although some Pakistani ethanol is still being talked in the market, it is being completely outplayed by lower Brazilian prices.
South Korean imports of B-grade ethanol dropped 84% MoM in July, sitting at only 553m3 for the month, according to South Korean customs. South Korean industrial ethanol imports increased 26% YoY for the first half of 2015, with most of this coming from the US, hitting 45,790m3for the first half of 2015.