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China

January 2, 2018

China Methionine Weekly: Market ends 2017 on a weak note (week ended Jan 2, 2018)

An eFeedLink Exclusive
 

Price summary

Prices moved lower.

Price quotes of imported dl-methionine were lower in the range of RMB21.50-22.50/kg, down by RMb0-1/kg.

For liquid methionine*, price quotes stayed flat around RMB18/kg.
 

Weekly prices of dl-methionine in China

Area

Dec 19 - Dec 25
(RMB/kg)

Dec 26 - Jan 2
(RMB/kg)

Price change
(RMB/kg)

Guangzhou

23.00

22.50

-0.50

Chengdu

23.00

22.50

-0.50

Jinan

22.60

22.00

-0.60

Nanjing

22.50

21.50

-1.00

Shijiazhuang

22.50

22.00

-0.50

Zhengzhou

21.50

21.50

0.00

Shenyang

22.50

22.00

-0.50

Beijing

22.50

22.00

-1.00

 

Weekly transacted prices of liquid methionine* in China

Area

Dec 19 - Dec 25
(RMB/kg)

Dec 26 - Jan 2
(RMB/kg)

Price change
(RMB/kg)

North

18.00

18.00

0.00

Central

18.00

18.00

0.00

South

18.50

18.00

0.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1533 (Jan 2)

 
*Commonly referred to in China as liquid methionine is methionine hydroxyl analogue, a liquid source of supplemental methionine.
 

Market analysis

Demand for methionine was weak during the last week of December, as most feed producers limited output in anticipation of slow sales during the holiday period.

Meanwhile, sluggish export demand, in conjunction with high exports, resulted in mounting inventories of methionine producers and traders. To clear stocks, methionine sellers cut prices during the period in review.

During November, China exported 4,981 tonnes of methionine, lower by 21% on-month, whereas imports surged 46% to 15,628 tonnes.

In Europe, prices of China-produced methionine were unchanged in the range of EUR2.45-2.53/kg.
 

Market forecast

Although broiler prices have increased prominently, poultry feed millers will stay prudent and limit production, hence curtailing the sales of methionine. With supplies plentiful amid high imports and demand slack, methionine market is expected to stay weak.
 
Export demand for Chinese methionine will fall as renminbi has appreciated significantly lately. With demand limited and supplies plentiful, methionine market will stay soft, compelling sellers to give discount even if they keep price quotes unchanged.
 

 


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