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November 14, 2008

China Methionine Weekly: Prices trend down amid weak demand and ample supplies (week ended Nov 14, 2008)

An eFeedLink Exclusive
 

Price summary

Prices were lower in most regions.

Quotes for dl-methionine in the general markets were at RMB52.50-54.00. Overall, average transacted price (delivered-to-feed-mill) was RMB52.22/kg, down RMB1.47/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 45

Week 46

Price change
(RMB/kg)

Nov 1 - Nov 7 (RMB/kg)

Nov 8 - Nov 14 (RMB/kg)

Guangzhou

52.75

51.75

-1.00

Chengdu

53.25

51.75

-1.50

Jinan

54.25

53.00

-1.25

Nanjing

53.75

52.50

-1.25

Shijiazhuang

53.75

52.25

-1.50

Zhengzhou

53.75

52.00

-1.75

Shenyang

54.25

52.50

-1.75

Beijing

53.75

52.00

-1.75

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

Weekly transacted prices of liquid methionine* in China

Area

Week 45

Week 46

Price change
(RMB/kg)

Nov 1 - Nov 7 (RMB/kg)

Nov 8 - Nov 14 (RMB/kg)

North

46.00

44.50

-1.50

Central

45.80

44.00

-1.80

South

45.50

43.50

-2.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1459 (Nov 15, 2008)
 

Global markets

In Europe, methionine supplies were relatively tight with spot prices at Euro4.70-4.85/kg. No producer had yet officially listed their price quotes for 2009.
 

Market analysis

Buyers in China remained cautious and procured minimal amount to reduce exposure to further fall in prices. Livestock and feed consumption of methionine was still weak over the week.

Meanwhile, tumbling crude oil prices raised expectation and thus exerted downward pressure on global methionine prices.
 

Market forecast

Near-term methionine prices are seen to decline amid high inventory build up in China and low feed demand.

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

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