Vitamins | Market demand weak amid hand-to-mouth purchases dominating the market
Effamall.com
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Key points
Overall market has been stable but weak in China. Impacted by the tight supply of raw materials and elevated cost as well as the execution of “Dual Control on Energy Consumption”?policy, upstream factories tend strongly to uphold their quotations. Because of the cash flow pressure created by stocking, distributors have been highly?active in destocking.?The downstream demand?has been?low?and hand-to-mouth purchases have been dominating the market.?Overall inquiry atmosphere has been quiet?and transactions have been sluggish. Prices for most products have been stable and weak?except for certain products which have weakened with a wide range. Actual orders have been made by flexible negotiations. Attention should be paid to production & delivery status of the factories.
Most vitamin products?are at a disadvantage in?Europe.
On 29/06/2022, GUANGJIPHARM decided the plan to suspend VB2 (80%) feed grade production line for maintenance in July 2022, which is expected to take 2 months.
The online voting last week initiated by Effamall.com revealed that 30% of participants predicted?price rise of VE, 63% foresaw a drop, and 7% estimated a stable trend for a while.
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Price Update
*Note:?RMB prices exclude VAT rebates for export.
Calculation Formula: RMB price/exchange rate/ (100%+ 13% for VAT rebates)
Exchange rate on 04/07/2022: EUR/RMB?7.0067?USD/RMB 6.6863.
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Company news
CFT data have shown that corn prices stayed stable?in?South China.?In Northeast China and North China, prices stayed steady as well except for certain regions where prices have decreased slightly.
<Source: https://www.feedtrade.com.cn/yumi/????Date: 04/07/2022>
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Vitamin A
In Chinese market, prices have remained weak.?Inquiry has become average and demand has been low.
In Europe, prices have been stable.
Vitamin E
In China, prices have been strong in general, but dropped in certain regions. The demand has been low from downstream and the inquiries have been stable.
In Europe, prices have been steady.
Vitamin D3
Distributors have been highly active in destocking?and prices have remained stable but low?in China. Demand has been weak and inquiry has been average.
In Europe, prices have?stabilized.
Calcium Pantothenate
In China, with the execution of energy control policies and increased cost, the manufacturers tend to uphold the prices. More attention is being paid to the market. The market prices have remained strong with average inquires and transactions mainly made through negotiations.
In Europe, there has been no change in prices.?
Vitamin B1
In China, due to the cost uplift, factories have been upholding the quotations strongly, while?downstream demand has been?low and inquiry has been average, leading to steady?and weak prices?as a result.
European market prices have gone up?slightly.
Vitamin B2
In China, impacted by the market information, inquiries have been slightly more active, and prices have gone up marginally,?but dropped in certain regions based on different brands and production dates.?On 29/06/2022, GUANGJIPHARM decided the plan to suspend VB2 (80%) feed grade production line for maintenance in July 2022, which is expected to take 2 months.
In European market, there has been little change?in pricing.
Vitamin K3
In China, demand has been average and inquiry has been sluggish. The market prices have remained high with a wide range.
The European market prices have?trended downwards to?EUR27-30/kg.
Biotin
In Chinese market, transaction prices have remained steady but weak?while inquiry has been average.
In Europe, the prices for pure product have increased marginally to?EUR280-290/kg. The Biotin 2% prices have?also increased slightly to?EUR5.7-5.9/kg.
Choline Chloride
In China, prices have fallen back slightly. The prices for trimethylamine and ethylene oxide, the major raw materials for choline chloride, have remained high. The demand is low. Attention should be paid to any further cost change and production & delivery performance.
In European market, the prices of cho chl 70% have been flat at EUR2.0-2.2/kg. The?prices?have been solid?between?EUR1.6-1.9/kg for cho chl 75%.
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Other news
The freight
Maersk’s decision to resign from the board of the International Chamber of Shipping is a sign of the divergence among shipowner group as pressure builds to more aggressively address climate change.
<Source:https://www.joc.com/maritime-news/container-lines/maersk-resigns-ics-board-amid-push-hasten-decarbonization_20220701.html Date: 04/07/2022>
<Source: https://finance.sina.com.cn/>
Note: Global?futures data is “As of yesterday” due to time difference.
<Source: https://finance.sina.com.cn/>
Note: Data for items with “*” is “As of yesterday” due to time difference.?
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