Sentiment in Brazil and the US remained firmer on Tuesday as a backdrop to still extremely thin visibility in the Asian ethanol markets looking for directional steers as industry discussions continued in Beijing. Import opportunities into China continue to dominate the market’s attention, with wide price spreads between Chinese and US corn keeping cheap Brazilian or US imports the most attractive option for distributors into China’s mandated E10 provinces and cities. Exports this year are already set to smash 2014 levels, with large volumes of recently fixed Brazilian fuel ethanol either just arrived or due for nearby arrival into China. The transition to the intercrop in Brazil is seen gradually shifting the export advantage to US corn producers, although much will depend on the fate of the Real, following last week’s credit downgrade. US, Brazilian and Pakistani exporters meanwhile all remain wary of the potential for sudden changes in Chinese import policy, given the existing high domestic corn stockpiles.