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November 8, 2008
 
China Methionine Weekly: Slack demand drags prices down (week ended Nov 7, 2008)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices fell in most regions.
 
Quotes for dl-methionine in the general markets were at RMB53.50-55.50. Overall, average transacted price (delivered-to-feed-mill) was RMB53.69/kg, down RMB2.27/kg compared with a week ago.

Liquid methionine* quotes in the general market had dropped to RMB46.00-47.00/kg while actual transacted prices (delivered-to-feed-mill) were at RMB45.00-46.50/kg.
 

Weekly transacted prices of dl-methionine in China

Area

Week 44

Week 45

Price change
(RMB/kg)

Oct 25 - Oct 31 (RMB/kg)

Nov 1 - Nov 7 (RMB/kg)

Guangzhou

54.80

52.75

-2.05

Chengdu

56.00

53.25

-2.75

Jinan

56.40

54.25

-2.15

Nanjing

56.10

53.75

-2.35

Shijiazhuang

56.00

53.75

-2.25

Zhengzhou

56.00

53.75

-2.25

Shenyang

56.40

54.25

-2.15

Beijing

56.00

53.75

-2.25

Prices refer to delivered-to-feedmill prices, and are for reference only.
       

Weekly transacted prices of liquid methionine* in China

Area

Week 44

Week 45

Price change
(RMB/kg)

Oct 25 - Oct 31 (RMB/kg)

Nov 1 - Nov 7 (RMB/kg)

North

48.00

46.00

-2.00

Central

47.50

45.80

-1.70

South

47.00

45.50

-1.50

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1466 (Nov 8, 2008)

  
Global markets
 
In Europe, methionine supplies tightened with spot prices at Euro4.55-4.65/kg. Some producers indicated that prices for contracts in early 2009 could be lower at Euro4.30-4.40/kg.
 
 
Market analysis
 
Methionine demand weakened further amid sliding feed consumption.

Layer inventories continued to decline while broiler and hog inventories remained stagnant amid sluggish replenishment interest. Both methionine distributors and feed millers were very cautious with their procurements under gloomy industry outlook.
 
 
Market forecast

Near term prices are seen to decline amid sluggish demand and ample supplies.
 

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


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