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December 21, 2016


China Methionine Weekly: Prices consolidate lower on weak demand (week ended Dec 20, 2016)


An eFeedLink Exclusive

 


Price summary


Prices moved lower.


Price quotes of imported dl-methionine decreased to the range of RMB26.50-27.50/kg, down by RMB0.50-1/kg.

For liquid methionine*, price quotes consolidated lower at RMB23/kg.

 

Weekly transacted prices of dl-methionine in China

Area

Dec 7 - Dec 13
(RMB/kg)

Dec 14 - Dec 20
(RMB/kg)

Price change
(RMB/kg)

Guangzhou

28.00

27.00

-1.00

Chengdu

27.00

27.00

0.00

Jinan

27.50

26.50

-1.00

Nanjing

27.50

27.00

-0.50

Shijiazhuang

27.50

27.00

-0.50

Zhengzhou

27.50

27.50

0.00

Shenyang

27.50

27.00

-0.50

Beijing

27.50

27.00

-0.50

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

 

 

 

 

Weekly transacted prices of liquid methionine* in China

Area

Dec 7 - Dec 13
(RMB/kg)

Dec 14 - Dec 20
(RMB/kg)

Price change
(RMB/kg)

North

23.00

23.00

0.00

Central

24.00

23.00

-1.00

South

24.00

23.00

-1.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1439 (Dec 21)


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

 


Market analysis


Poultry feed production was lower than expected as producers limited output with the poultry markets underperforming. Attempting to move sales, methionine sellers negotiated prices over the week.
Nonetheless, with the costs of imported products remaining high due to a weak renminbi, price falls were limited.


In Europe, prices of methionine for 2017 Q1 deliveries were stable at EUR2.42-2.50/kg.

 


Market forecast


Feed output is unlikely to increase prominently in the coming period with market participants treading prudently. However, methionine prices should stay stable with the support of high import costs.


Entering January, prices are likely to rise modestly as end-users stock inventories before the long Chinese New Year holidays while prices are low.
 

 


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