October 21, 2003
Continual Upward Price Trend Seen in China's Methionine Market Early This Week
An eFeedLink Exclusive Report
Methionine prices in China remained on an upward path early this week. Current quotations for powder methionine maintained in the range of RMB27.0-27.5/kg, while general transacted prices hovered at around RMB26.5-27.0/kg. Meanwhile, current quotations for liquid methionine have reached above RMB22.0/kg, while general transacted prices averaged between RMB21.5-22.0/kg.
Sumitomo Chemical has announced it new price offer for dl-methionine on October 20. Its CIF US-dollar denominated price quote is US$2.55/kg, an increase by a big margin of 0.20/kg versus it's September's price quote. However, compared with the overall current market situation, the increment by Sumitomo Chemical is regarded as relatively mild by some traders. Market insiders felt that this price offer allows substantial room for front-line importers' margins to be factored in.
Novus China has also on October 20 announced that the price of its liquid methionine, Alimet, has been adjusted to RMB24.0/kg, which is RMB3.0/kg higher than its last price, or an increase of 14%.
