Value for South Korean B-grade ethanol has drifted slightly lower today, sitting at 480USD/m3, with bids still coming in at 470USD/m3. B-grade ethanol is in ample supply in South Korea at the moment, with shipments arriving from Brazil unsold, adding to already high stock levels. Attempts to shift this excess supply to the Chinese market have been failing due to quality concerns, uncertainty in the market, and problems with customs at ports across the country. Shipments which were delayed from Pakistan due to monsoons earlier this month have started to move into China, adding to this already significant oversupply. Prices for fuel ethanol in Asia have gone slightly higher, sitting around 513USD/m3 for September loading, as many buyers return from summer holidays, driving up demand for product. In the US market, prices drifted higher yesterday, still merely lagging Monday’s spectacular spike in mineral oil markets.