October 24, 2011
China Methionine Weekly: Market faces upward resistance (week ended Oct 23, 2011)
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Price summary
Prices were mixed.
Quotes for dl-methionine in the general markets inched lower to RMB39.50-39.90/kg.
Liquid methionine* quotes in the general market fell slightly to RMB30.30-30.90/kg.
|
Weekly transacted prices of dl-methionine in China | |||
|
Area |
Week 41 |
Week 42 |
Price change |
|
Oct 10 - 16 (RMB/kg) |
Oct 17 - 23 (RMB/kg) | ||
|
Guangzhou |
39.70 |
39.60 |
-0.10 |
|
Chengdu |
39.50 |
39.60 |
0.10 |
|
Jinan |
39.40 |
39.40 |
0.00 |
|
Nanjing |
39.50 |
39.50 |
0.00 |
|
Shijiazhuang |
39.40 |
39.50 |
0.10 |
|
Zhengzhou |
39.40 |
39.40 |
0.00 |
|
Shenyang |
39.60 |
39.50 |
-0.10 |
|
Beijing |
39.50 |
39.50 |
0.00 |
|
Prices refer to delivered-to-feedmill prices, and are for reference only. | |||
|
Weekly transacted prices of liquid methionine* in China | |||
|
Area |
Week 41 |
Week 42 |
Price change |
|
Oct 10 - 16 (RMB/kg) |
Oct 17 - 23 (RMB/kg) | ||
|
North |
30.60 |
30.60 |
0.00 |
|
Central |
30.80 |
30.80 |
0.00 |
|
South |
30.70 |
30.60 |
-0.10 |
|
Prices refer to delivered-to-feedmill prices, and are for reference only. | |||
*Commonly referred to in China as liquid methionine is methionine hydroxyl analogue, a liquid source of supplemental methionine.
Global markets
In Europe, quotes for Q4 orders edged higher in the range of EUR3.50-3.55/kg, while bulk orders were priced as low as EUR3.45/kg.
Market analysis
Over the week, methionine prices lacked the momentum to move higher as prudent buying in the market prompted producers to slightly ease tightening of output control.
Market forecast
Methionine market is expected to remain subdued in the short term.
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