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November 8, 2016

China Methionine Weekly: Prices firm up amid higher import costs (week ended Nov 7, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices increased of late.
                      
Price quotes of imported dl-methionine increased to the range of RMB24.50-26/kg, higher by RMB1-1.30/kg.
 
For liquid methionine*, price quotes were unchanged at RMB20.50-21/kg.
 

Weekly prices of dl-methionine in China

Area

Oct 18 - Oct 31
(RMB/kg)

Nov 1 - Nov 7
(RMB/kg)

Price change
(RMB/kg)

Guangzhou

25.00

26.00

1.00

Chengdu

25.00

26.00

1.00

Jinan

24.20

25.50

1.30

Nanjing

24.50

25.50

1.00

Shijiazhuang

24.50

25.50

1.00

Zhengzhou

24.20

25.50

1.30

Shenyang

24.50

25.50

1.00

Beijing

24.50

25.50

1.00

 

Weekly transacted prices of liquid methionine* in China

Area

Oct 18 - Oct 31
(RMB/kg)

Nov 1 - Nov 7
(RMB/kg)

Price change
(RMB/kg)

North

20.50

20.50

0.00

Central

20.50

20.50

0.00

South

21.00

21.00

0.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1476 (Nov 8) 


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

Market analysis
 
Prices of poultry products in China remained soft although AA broiler market showed signs of recovering of late. Despite flat poultry feed demand, prices of methionine moved higher as import costs increased substantially due to the depreciation of renminbi.
 
Meanwhile, there was news that Adisseo would halt its production of liquid methionine until further notice. This lent support to the dl-methionine market as several buyers expanded inventories, albeit prudently, amid concerns that supplies might tighten.
 
In Europe, prices of methionine for Q4 deliveries stayed at EUR2.61-2.65/kg.
 

Market forecast
 
Methionine prices should remain firm in the near term as distributors and traders hold up prices to cover the rise in import costs. Nonetheless, with supplies abundant and poultry feed consumption slow, the upward potential of the market will be limited.
 

 


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