Methionine Prices: In the second quarter of 2023 | ChemAnalyst

For the Quarter Ending June 2023

North America:

In the United States, Methionine prices for both food grade and feed grade experienced a significant decline of 16.57% and 0.83%, respectively, during April. This trend persisted throughout the second quarter, reflecting a subdued market. The primary drivers behind this decline were an upswing in supply and diminished demand, both domestically and internationally. The Purchasing Managers' Index (PMI) plummeted to 46.3 in June compared to the beginning of the quarter, indicating reduced purchasing activity among end consumers. Consequently, market participants lowered Methionine prices to manage their existing inventory levels. Additionally, the cost of energy, a crucial input in production, decreased in recent months due to a global economic slowdown and lower oil prices, further contributing to the downward trajectory of Methionine prices. High-interest rates in the US market also dampened demand, exacerbating the price decline. Furthermore, the appreciation of the US dollar against the Chinese yuan in June made imports more affordable, thus increasing the availability of Methionine and putting additional downward pressure on prices.

Asia Pacific:

In China, Methionine prices witnessed a notable drop of 16.57% and 0.83% for food grade and feed grade, respectively, from April onwards. This decline was primarily driven by reduced demand in the food and beverage, nutraceutical, and pharmaceutical industries during the second quarter. Market conditions remained weak due to an initial build-up of inventories at the start of Q2, with decreased offtakes from both domestic and foreign markets further contributing to the downward trend. The official Manufacturing Purchasing Managers' Index (PMI) fell from 49.2 in April to 48.8 in May, indicating a contraction in the manufacturing sector throughout Q2, resulting from weakened demand across various sectors. New orders also declined at an accelerated pace during this period. To mitigate inventory pressures and sustain profitability, market providers implemented price reductions. Moreover, extreme temperatures in June disrupted trading activity, increasing domestic market supply and intensifying the downward pressure on Methionine prices.

Get Real Time Prices of Methionine:?https://www.chemanalyst.com/Pricing-data/methionine-1507

Europe:

In Europe, Methionine prices exhibited a decline of 0.79% and a more substantial drop of 10.71% for feed grade and food grade, respectively, from April to June. This decline indicated a persistently weak market during the second quarter. Factors such as reduced purchasing activity and ample inventories in the German market contributed significantly to this downward trajectory. Germany, in particular, saw its Manufacturing Purchasing Managers Index (PMI) for June 2023 drop to 41, down from 43.2 in May and 44.5 in April, reflecting a manufacturing slump attributed to the lingering impact of the COVID-19 pandemic. Weak end-user demand resulted in a sharper decline in new orders. Additionally, the Federal Statistical Office reported inflation, as measured by the Consumer Price Index (CPI), reaching 6.4% in June, a 0.2% increase from May. In response, the European Central Bank raised interest rates to combat inflation, further dampening consumer demand. Furthermore, the Euro's appreciation against the US dollar in June made imports more cost-effective, increasing the availability of Methionine in the German market and exacerbating the downward pressure on prices.

About Us:?

ChemAnalyst?is a subsidiary of TechSci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.

?

Contact Us:

ChemAnalyst

420 Lexington Avenue, Suite 300,

New York, NY, United States, 10170

Call +1 3322586602

Email:?[email protected]

Website:?https://www.chemanalyst.com