August 20, 2003
China's Methionine Mid-Week Report: Methionine Prices in China remain Dismal
An eFeedLink Exclusive Report
Methionine prices in China continued to be dismal although market prices remain basically stable. The current quotations for powder methionine averaged between RMB24.3-24.5/kg, with general transaction prices (delivered-to-factory prices) ranging between RMB23.7-24/kg. For liquid methionine, prices remained essentially unchanged, with current general transaction prices at RMB20-20.5/kg, and at about RMB20/kg in some regions.
Regionally, market transaction prices in Guangdong province remained at around RMB24/kg. In Beijing, prices ranged between RMB23.8-24/kg. At RMB23.6-23.7/kg, prices in Zhengzhou were the lowest throughout China. Prices hovered at around RMB24/kg in Changsha, while keeping to RMB24-24.2/kg in Jinan. Prices in Shanghai remained between RMB23.8-24/kg, while hovering at around RMB24/kg in Chengdu.
Overall, market activity remained sluggish, while market prices remained basically unchanged from the previous week. Given the current low demand by feed millers coupled with an abundant supply, prices will continue to remain depressed for some time.