September 18, 2003
Biotin Prices in China On the Rise
An eFeedLink Exclusive Report
Of late, China's biotin market is seen on its turnaround towards significant recovery of prices. Current biotin quotations from Roche Group averaged between RMB195-200/kg, while actual transacted prices rose by RMB5/kg, to RMB190/kg. Prices for biotin produced by Sumitomo Chemical were at around RMB150/kg, with actual transacted prices regained to the level of RMB140/kg. Quotations for biotin produced in Zhejiang, China, grew by RMB10/kg, to RMB120-130/kg.
Overall performance of the biotin market in China since early this year is seen on the downward trend although market remained generally stable. What are the driving forces for the recent price hikes?
According to trade participants, recent increasing prices are mainly attributable to Zhejiang Xin Chang's plant shutdown for equipment maintenance. The plant shutdown has led to a sudden decline in recent market supply. Seeing this tight supply, some distributors and traders take this opportunity to raise their quotations, thereby the recent price hikes. There is still sustainable space for further upswing due to the general robust outlook for the livestock production industry in China for the mid term.