Spot ethanol prices declined sharply across the nation's regional trade hubs on Monday after China imposed a 15% tariff on ethanol imported from the United States atop of an existing 30% tariff.
"This may not stop the flow of ethanol in the long term, but for now people may hold off [buying]," said a trade source.
Prompt delivered supply at Argo hub in the Chicago market traded about four times during the aftermarket at $1.415 gallon, down 4.75 cents, with New York Harbor barges valued at $1.52 per gallon for a 7.0-cent loss. California spot prices were pegged 3.5 cents lower at $1.62 per gallon while Houston values were seen at $1.55 per gallon for a 3.0-cent loss.
George Orwel can be reached at firstname.lastname@example.org
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