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November 7, 2008

                                         

China Lysine Weekly: Producers slash prices amid rising inventory pressure (Week ended Nov 6, 2008)

 
An eFeedLink Exclusive
 
 

Price summary

 

Prices were lower in most regions.

 

Average transacted prices of locally-produced lysine were lower at RMB11.73/kg, down RMB0.53/kg from the previous week. Transacted prices of 65-percent locally-produced lysine were at RMB7.00-7.20/kg.


As for imported lysine, traders concluded deals at prices in the range of RMB12.30-12.60/kg. Prices for imported 65-percent lysine were lower at RMB7.10-7.30/kg. 

 

Weekly transacted prices of imported lysine in China
Region
Week 44
Week 45
Price change
(RMB/kg)
Oct 24 - Oct 30 (RMB/kg)
Oct 31 - Nov 6 (RMB/kg)
Guangzhou
12.95
12.50
-0.45
Chengdu
12.90
12.40
-0.50
Jinan
12.90
12.45
-0.45
Changsha
--
--
--
Nanjing
12.95
12.45
-0.50
Zhengzhou
12.90
12.40
-0.50
Shenyang
12.95
12.45
-0.50
Beijing
12.90
12.40
-0.50
Prices refer to delivered-to-feedmill prices, and are for reference only.
 

Weekly transacted Prices of locally produced lysine in China

Region

Week 44

Week 45

Price change
(RMB/kg)

Oct 24 - Oct 30 (RMB/kg)

Oct 31 - Nov 6 (RMB/kg)

Guangzhou

12.10-12.40

11.60-11.90

-0.50

Chengdu

12.10-12.30

11.50-11.80

-0.60 to -0.50

Jinan

12.10-12.30

11.60-11.90

-0.50 to -0.40

Changsha

12.30-12.50

11.70-12.00

-0.60 to -0.50

Nanjing

12.10-12.40

11.60-11.80

-0.60 to -0.50

Zhengzhou

12.10-12.30

11.50-11.80

-0.60 to -0.50

Shenyang

12.10-12.40

11.70-12.00

-0.40

Beijing

12.10-12.30

11.50-11.80

-0.60 to -0.50

Prices refer to delivered-to-feed-mill prices, and are for reference only.
RMB1=US$0.1465 (Nov 7)
 
 

Market analysis

 

Producers cut prices in an effort to attract buyers amid rising inventory pressure.


Meanwhile, cautious buyers procured minimal quantity to reduce inventory carrying risk as livestock inventories diminished while the global economic situation remained bleak. Moreover, a stronger Renminbi hampered lysine exports, thereby curtailing demand further.

 
 

Market forecast

 

More price slashes are expected in the near term as producers try to clear bloating stocks.
 
 

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