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November 10, 2011
 
China Fishmeal Weekly: Market buckles under global weakness, waning demand (week ended Nov 10, 2011)
 
An eFeedLink Exclusive

 
Price summary
 
Prices were lower.
 

 Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne)

Price type

Port/Inland city

Origin

Grade/
Protein content/
stock type

Price as of Nov 3

Price as of Nov 10

Price change

Port

Dalian

Peru

FAQ/65%/new

8,600

8,500

-100

Tianjin

Peru

FAQ/67%/new

8,600

8,500

-100

Shanghai

Peru

FAQ/65%/new

8,500

8,300

-200

Huangpu

Peru

FAQ/65%/new

8,500

8,300

-200

Rail station

Zhengzhou

Peru

FAQ/65%/new

8,800

8,600

-200

Wuhan

Peru

FAQ/65%/new

8,800

8,600

-200

Shenyang

Peru

FAQ/65%/new

8,700

8,600

-100

Chengdu

Peru

FAQ/65%/new

8,900

8,700

-200

Prices refer to port transaction prices and are for reference only.
RMB1= US$0.1574 (Nov 10)

 

Global markets
 
Over the week, FOB prices of Peru's FAQ fishmeal tumbled to US$1,200/tonne, as a higher-than-expected fishing quota for the new season drove negative market sentiment.
 
 
Market analysis
 
Facing waning winter demand and tight credit, fishmeal traders were more willing to negotiate prices to liquidate stocks. Daily transaction volumes at major ports had slowed to 2,600 tonnes, down 1% from end-October levels.
 
 
Market forecast
 
Given flat seasonal demand and a bearish global outlook, further price downside for fishmeal is expected in the short term.
 

 
 

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