Ethanol Blog
Most Spot Ethanol Prices Plunge after Disappointing Chinese GDP
By
George Orwel
Spot ethanol prices mostly tumbled Monday under pressure from a broad-based sell-off across commodities markets after China said its growth rate slowed during the first quarter. Spot prices in Texas proved the exception, with prices supported by tight supply.
Data showed China's gross domestic product at 7.7% for the first quarter, down from 7.9% for the fourth quarter. "It's an ugly day for commodities today," said Scott Strand, an analyst at Northstar Commodity Investment in Minneapolis, Minn.
George Orwel can be reached at george.orwel@telventdtn.com.
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