July 29, 2020
China Tryptophan: Market shows signs of stabilising (week ended Jul 27, 2020)
Tryptophan market showed signs of stabilising as production decreased while producers halt operation for routine maintenance. Moreover, Julong, a major producer, has cut output by 4,000 tonnes, using the excess capacity for other production. Meanwhile, as soymeal market strengthens while hog prices climbed further, feed producers cautiously increased stocks of tryptophan in view of higher usages.
Local tryptophan demand should stay stable as buyers stock inventories. However, export orders will be limited due to the coronavirus pandemic. Producers will be keen to lift prices of tryptophan but price rise is expected to be moderate due to high capacity of the industry and cautious buying.
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