September 3, 2003

 

 

China's Methionine Mid-Week Report - Methionine Prices in China Mid-Week Are Seen to Rise

 

An eFeedLink Exclusive Report        

 

Methionine market in China during early part of this week remained basically stable, with significant price increases reported in some regions. Current market quotations for powder methionine averaged between RMB24.2-24.5/kg, with general transacted prices (delivered-to-factory prices) ranging between RMB23.8-24.3/kg. For liquid methionine, prices remained essentially stable but are seen to rise for the nearby term. The transacted prices in southern regions have hit RMB20.5/kg, while general transacted prices for most regions ranged between RMB20.0-20.2/kg.

 

Recent market prices in Guangzhou area are on the upward trend, with market quotation hovering at RMB24.5/kg and transacted prices at RMB24.3-24.5/kg. For other regions in China, transacted prices were relatively stable, ranging as follows:

    • Beijing at RMB23.8-24.0/kg;
    • Zhengzhou at RMB23.7-23.8/kg;
    • Nanjin and Jinan at RMB24.0/kg;
    • Shanghai at RMB23.8-24.0/kg;
    • Shijiazhuang at RMB23.8/kg;
    • Chengdu at RMB24.0-24.2/kg.  
In short, the effect of Sumitomo Chemical asking for higher US-dollar denominated prices for dl-methionine and the move by some traders to raise their asking prices as well, have led to increased desire for feed millers to be active in procurement. The current price hike in Guangzhou is seen by some market participants as a precursor for rising methionine prices in China for the nearby term.