March 10, 2017
China Fishmeal Weekly: Traders stand firm despite flat demand (week ended Mar 9, 2017)
An eFeedLink Exclusive
Price summary
Prices remained stable.
|
Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne) | ||||||
|
Price type |
Port/Inland city |
Origin |
Grade/ |
Price as of |
Price as of |
Price change |
|
Port |
Dalian |
Peru |
FAQ/65%/new |
10,200 |
10,200 |
0 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
10,200 |
10,200 |
0 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
10,200 |
10,200 |
0 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
10,200 |
0 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,700 |
0 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
10,800 |
10,800 |
0 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
10,400 |
10,400 |
0 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
10,900 |
10,900 |
0 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal were unchanged at US$1,530/tonne.
Pre-sales of fishmeal totalled 210,000 tonnes amid stable demand from China.
Market analysis
Fishmeal traders held prices unchanged while the costs of Peruvian products remained stable but renminbi depreciated lately. In view of strengthened demand towards late March due to the recovery of aquaculture farming under warmer climates, traders stood firm despite slow sales.
Price quotes for prime-grade products dipped to the range of RMB11,300-11,500/tonne.
Market forecast
Fishmeal traders will attempt to hold up prices of fishmeal to sustain profits. However, with port inventories mounting, some may negotiate prices in efforts to clear stocks.
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