July 19, 2016
 
China Methionine Weekly: Traders cut prices to entice buyers (week ended Jul 18, 2016)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were softer.
 
Price quotes of imported dl-methionine dropped to the range of RMB28-29.50/kg, lower by RMB0.30-0.80/kg.
 
For liquid methionine*, price quotes stayed at RMB24.50-26/kg.
 

Weekly transacted prices of dl-methionine in China

Area

Jul 5 - Jul 12
(RMB/kg)

Jul 13 - Jul 18
(RMB/kg)

Price change
(RMB/kg)

Guangzhou

29.50

29.50

0.00

Chengdu

29.50

29.00

-0.50

Jinan

28.80

28.00

-0.80

Nanjing

28.80

28.50

-0.30

Shijiazhuang

28.80

28.50

-0.30

Zhengzhou

28.80

28.00

-0.80

Shenyang

29.00

28.50

-0.50

Beijing

28.80

28.50

-0.30

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

 

 

 

 

Weekly transacted prices of liquid methionine* in China

Area

Jul 5 - Jul 12
(RMB/kg)

Jul 13 - Jul 18
(RMB/kg)

Price change
(RMB/kg)

North

26.00

26.00

0.00

Central

24.50

24.50

0.00

South

24.50

24.50

0.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1493 (Jul 19)

 
*Commonly referred to in China as liquid methionine is methionine hydroxyl analogue, a liquid source of supplemental methionine.
 
 
Market analysis
 
Although several producers held prices firm lately, traders who were eager to close deals to clear stocks negotiated prices while demand was slow. However, even as methionine prices softened, sales showed little improvement as poultry feed producers limited output while the market was weak.
 
In Europe, spot prices of methionine slid to the range of EUR3.09-3.12/kg amid tepid demand.
 
 
Market forecast
 
Slack poultry feed demand will continue to weigh on the prices of methionine while feed millers stay cautious. Nonetheless, prominent price falls are less likely with import costs remaining high amid a weakening renminbi.
 

 


All rights reserved. No part of the report may be reproduced without permission from eFeedLink.