Lysine and threonine are now starting to show a weaker trend in China and it is expected that export prices may become weaker as well. Lysine even more so than threonine. The next weeks should give more direction. Learn more in this week’s feed additives snapshot (week 43).
Corn prices have come down in China and availability of lysine and threonine is good and that is putting downward pressure on the price. Methionine is still firm for Q4 and even Q1 prices and relatively tight on availability, but buyers have become more conservative now. Valine is stable to weak and tryptophan is more stable.
Vitamin B6 market is more active. Suppliers have stopped offering and there is some demand seen now for Q4 and early Q1. D-calpan (B5) and vitamin B3 still feel weak. Wait and see attitude for longer term purchases, although prices are getting really low, especially d-calpan. Vitamin A and E show no changes compared to previous weeks. Stable prices at a low level and a relatively quiet market for both products. Although one vitamin A supplier is keen to re-gain market share. Overall the vitamin market continuously feels quiet and very weak. Potentially the CPHI Barcelona trade show may give new insights this week.
The market is starting to feel weaker now. Corn prices in China have come down and stocks and production output seem to be better available compared to some weeks ago. Some Q1 arrival business was seen last week, but it has gone quiet again. Shipments ex-China are offered for December shipment now, so lead times need to be considered. Q4 and a portion of Q1 are contracted, but buyers are mostly still waiting to contract the remainder of Q1.
Relatively low prices have been offered for threonine by local traders compared to previous weeks. Significantly lower than the current replacement value FOB China, and often with very limited volume behind it. Just like lysine, the market does feel a bit quieter and weaker now. But as threonine S&D is more balanced, no significant changes are seen or expected. Q4 is mostly contracted by now and some overlap into Q1 as well. For the remainder of Q1 there is a wait-and-see attitude.
Apart from the US, the methionine market remains firm in most regions in terms of prices and nearby availability. But, the market does feel quiet again after a period of relative volatility. Q4 and an overlap into Q1 are mostly contracted, but buyers have a wait-and-see attitude for further Q1 2024 purchases.
Overall the market is very quiet and relatively stable at the moment. The situation in the US is still firm due to the poor availability of local domestic product. Q4 is mostly contracted but Q1 cover is still limited.
The market seems to have stabilised recently in most regions, after a weaker period. But with more supply coming from China, the weak trend seems to continue again now in most regions. It is relatively calm right now as most buyers are contracted ahead for Q4 and there is no urgency to buy anything right now.
Compared to previous weeks, no changes have been reported in the vitamin E market. The market is quiet and calm. Recently, prices have been relatively stable in most regions. Manufacturers continue to offer resistance against further price decline but are also careful not to lose market share. Most of Q4 is contracted.
Prices continue to be mostly stable in all regions, at a low level. Some exceptions below market price are sometimes mentioned in case of larger volume deals. One of the main manufacturers is quite active in regaining market share. As prices are more stable and low, there is more trust on the buying side to look at covering further ahead. Q4 is largely contracted by now and even some overlap is seen into Q1.
The market is stable to weak in most regions. Also, price levels remain very low. Demand is still there, but supply is ample from a production output point of view. Nearby stocks are sometimes low though. There is a decent cover on Q4 already, but buyers are not tempted to take longer-term positions, despite the already low price.
The vitamin B2 market still feels weak and quiet in most regions, although no significant further price decline is seen currently. The price in Europe has not been affected by the decline as such, the price has almost been a flat line for months now and as long as no new (Chinese) capacity is seen in the EU, no changes are expected. A good portion of Q4 was contracted already some time ago.
Some activity was seen in the last weeks, as prices have become really low and not all of Q4 was/is contracted yet. This week the market feels very quiet again. Prices continue to be weak and came down slightly again in all major regions. Most of Q4 is contracted by now, but some buyers still buy spot.
Some suppliers remain keen to maintain market share and/or to move volume. This is putting pressure on the market prices and therefore as a result the market feels weak and prices continue to weaken, although the speed of price decline is getting less. A lot of buyers took longer-term contracts during the run-up in price earlier this year and are not in the market now. Most of Q4 is contracted and a portion of Q1 is as well in some regions.