October 27, 2011
China Fishmeal Weekly: Dwindling port inventories underpin prices (week ended Oct 27, 2011)
An eFeedLink Exclusive
Price summary
Prices were higher.
|
Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne) | ||||||
|
Price type |
Port/Inland city |
Origin |
Grade/ |
Price as of Oct 20 |
Price as of Oct 27 |
Price change |
|
Port |
Dalian |
Peru |
FAQ/65%/new |
8,500 |
8,600 |
100 |
|
Tianjin |
Peru |
FAQ/67%/new |
8,500 |
8,600 |
100 | |
|
Shanghai |
Peru |
FAQ/65%/new |
8,400 |
8,500 |
100 | |
|
Huangpu |
Peru |
FAQ/65%/new |
8,400 |
100 | ||
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
8,700 |
100 | |
|
Wuhan |
Peru |
FAQ/65%/new |
8,700 |
8,800 |
100 | |
|
Shenyang |
Peru |
FAQ/65%/new |
8,600 |
8,700 |
100 | |
|
Chengdu |
Peru |
FAQ/65%/new |
8,800 |
8,900 |
100 | |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
Over the week, FOB prices of Peru's FAQ fishmeal rose slightly to US$1,280/tonne.
Market analysis
Peru's September fishmeal exports to China sank 43.5% on-month to 39,000 tonnes, signalling the pace of import arrivals had slowed markedly. China's fishmeal market found support from the easing of supply pressure, with port inventories dropping to around 180,000 tonnes over the week.
Market forecast
Fishmeal market will likely maintain rising momentum in the coming week.
All rights reserved. No part of the report may be reproduced without permission from eFeedLink.
