October 31, 2011
China Methionine Weekly: Subdued buying weighs on prices (week ended Oct 23, 2011)
An eFeedLink Exclusive
Price summary
Prices were mostly lower.
Quotes for dl-methionine in the general markets slipped to RMB39.00-39.60/kg.
Liquid methionine* quotes in the general market edged lower in the range of RMB30.20-30.90/kg.
|
Weekly transacted prices of dl-methionine in China | |||
|
Area |
Week 42 |
Week 43 |
Price change |
|
Oct 17 - 23 (RMB/kg) |
Oct 24 - 30 (RMB/kg) | ||
|
Guangzhou |
39.60 |
39.50 |
-0.10 |
|
Chengdu |
39.60 |
39.50 |
-0.10 |
|
Jinan |
39.40 |
39.30 |
-0.10 |
|
Nanjing |
39.50 |
39.30 |
-0.20 |
|
Shijiazhuang |
39.50 |
39.30 |
-0.20 |
|
Zhengzhou |
39.40 |
39.20 |
-0.20 |
|
Shenyang |
39.50 |
39.30 |
-0.20 |
|
Beijing |
39.50 |
39.30 |
-0.20 |
|
Prices refer to delivered-to-feedmill prices, and are for reference only. | |||
|
Weekly transacted prices of liquid methionine* in China | |||
|
Area |
Week 42 |
Week 43 |
Price change |
|
Oct 17 - 23 (RMB/kg) |
Oct 24 - 30 (RMB/kg) | ||
|
North |
30.60 |
30.60 |
0.00 |
|
Central |
30.80 |
30.80 |
0.00 |
|
South |
30.60 |
30.50 |
-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 remained stable in the range of EUR3.50-3.55/kg, while bulk orders were priced as low as EUR3.45/kg. Restocking for 2012 had barely started.
Market analysis
Sluggish demand loosened producers' releases of methionine and weakened their pricing power over the week. Meanwhile, large imports from Japan in September added to domestic supply pressure.
Market forecast
Methionine market outlook will likely remain bleak in the short to medium run.
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