November 14, 2008
China Methionine Weekly: Prices trend down amid weak demand and ample supplies (week ended Nov 14, 2008)
An eFeedLink Exclusive
Price summary
Prices were lower in most regions.
Quotes for dl-methionine in the general markets were at RMB52.50-54.00. Overall, average transacted price (delivered-to-feed-mill) was RMB52.22/kg, down RMB1.47/kg compared with a week ago.
Liquid methionine* quotes in the general market had dropped to RMB46.00-47.00/kg while actual transacted prices (delivered-to-feed-mill) were at RMB45.00-46.50/kg.
|
Weekly transacted prices of dl-methionine in China | |||
|
Area |
Week 45 |
Week 46 |
Price change |
|
Nov 1 - Nov 7 (RMB/kg) |
Nov 8 - Nov 14 (RMB/kg) | ||
|
Guangzhou |
52.75 |
51.75 |
-1.00 |
|
Chengdu |
53.25 |
51.75 |
-1.50 |
|
Jinan |
54.25 |
53.00 |
-1.25 |
|
Nanjing |
53.75 |
52.50 |
-1.25 |
|
Shijiazhuang |
53.75 |
52.25 |
-1.50 |
|
Zhengzhou |
53.75 |
52.00 |
-1.75 |
|
Shenyang |
54.25 |
52.50 |
-1.75 |
|
Beijing |
53.75 |
52.00 |
-1.75 |
| Prices refer to delivered-to-feedmill prices, and are for reference only. | |||
|
Weekly transacted prices of liquid methionine* in China | |||
|
Area |
Week 45 |
Week 46 |
Price change |
|
Nov 1 - Nov 7 (RMB/kg) |
Nov 8 - Nov 14 (RMB/kg) | ||
|
North |
46.00 |
44.50 |
-1.50 |
|
Central |
45.80 |
44.00 |
-1.80 |
|
South |
45.50 |
43.50 |
-2.00 |
| Prices refer to delivered-to-feedmill prices, and are for reference only. RMB1=US$0.1459 (Nov 15, 2008) | |||
Global markets
In Europe, methionine supplies were relatively tight with spot prices at Euro4.70-4.85/kg. No producer had yet officially listed their price quotes for 2009.
Market analysis
Buyers in China remained cautious and procured minimal amount to reduce exposure to further fall in prices. Livestock and feed consumption of methionine was still weak over the week.
Meanwhile, tumbling crude oil prices raised expectation and thus exerted downward pressure on global methionine prices.
Market forecast
Near-term methionine prices are seen to decline amid high inventory build up in China and low feed demand.
*Commonly referred to in China as liquid methionine is methionine hydroxyl analogue, a liquid source of supplemental methionine
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