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November 24, 2008

 

China's vitamin C prices were stable to lower
 

An eFeedLink Exclusive
 
 

Price summary

 
Asking prices for vitamin C by the four major producers were between RMB108/kg and RMB115/kg while actual transacted prices were lower. Prices by some small and medium-sized producers were lower. Market prices were in the range of RMB98-107/kg. Lower priced products were eagerly sought for export.

Most producers were producing small quantity of coated ascorbic acid and were supplying from existing inventories to meet market demand. Ex-factory quotes by major producers in Beijing and Zhejiang were mainly at RMB98-105/kg, while Taige in Anhui as well so some other producers would offer lower than RMB90/kg. Average transacted prices in the market were between RMB93-102/kg.

Market transacted prices for L-ascorbate-2-phosphate products have fallen to RMB43-45/kg. Some customers concluded deals at prices lower than RMB42/kg.

 

Weekly transacted prices of vitamin C products in China

Region

Vitamin C contents (%)

Prices as of Nov 7 (RMB/kg)

Prices as of Nov 21 (RMB/kg)

Price Changes (RMB/kg)

Vitamin C Raw Materials

Guangdong 

98

100-107

99-106

-1

Jiangsu 

99

98-106

97-105

-1

Shanxi 

99

98-106

97-105

-1

Shandong 

99

98-107

97-106

-1

Anhui 

99

99-106

98-105

-1

Hebei 

99

99-106

99-106

-

Liaoning 

99

99-106

99-106

-

Coated Ascorbic Acid

Guangdong 

93

91-102

90-102

-1 to 0

Zhejiang 

93

89-103

88-102

-1

Anhui 

93

89-99

88-99

-1 to 0

Hebei 

97

89-97

88-97

-1 to 0

Jiangsu 

97

90-100

89-100

-1 to 0

Liaoning 

97

90-98

89-98

-1 to 0

L-Ascorbate-2-Phosphate

Whole China market

Locally produced (35%)

43-46

42-45

-1

All prices are representative and are for reference only.
RMB1=US$0.1464 (Nov 24)

 
 

Exports

 

In the past two weeks, quotes for the export market were US$14.00 and above. Quotes for bigger export quantities were lower by at least US$1/kg while some producers would offer long-term customers prices as low as US12.00/kg.


Vitamin C exports remained weak as exports to Europe have been affected by weakening of the Euro against the Renminbi.

 

 

Market forecast

 

Some vitamin C producers were transacting at as low as RMB95/kg over past two weeks while others halted production. Although the four major producers stood firm, they may be pressurized to reduce their price quotes in the near term amid weak export demand. The situation may not be helped by a producer in Zhengzhou, Henan province, who has stepped up production after taking over another company.  
 

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