Vitamins | Shandong Fengyin offering feed grade VB2 (80%) at RMB130/kg
Effamall.com
New opportunities and new information are discovered every day in the feed additive industry!
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. Some terminals have made replenishment with a small amount at low prices. Attention should be paid to production & delivery status of the factories.
Most vitamin products?are at a disadvantage in?Europe.
On 01/07/2022, NHU decided the plan to suspend their VC production line at Helongjiang Base for maintenance in July 2022, which is expected to take 10-12 weeks.
On 04/07/2022, ZMC?suspended making quotations or?signing contracts for feed grade VA and VE.
On 05/07/2022,?Shandong Fengyin?increased the prices of feed grade VB2 (80%) to RMB130/kg (Brand: NB), due to the uplifted costs of raw materials and power in summer. The FOB prices for export have been adjusted as well.
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 06/07/2022: EUR/RMB?6.9888 USD/RMB 6.6986. ?
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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: 06/07/2022>
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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 with a wide range. Although it is?the 3rd?quarter already, the overall volume of transactions agreed by?contracts for?Q3 2022 is still low?compared with the same period in previous years. The factory's shutdown?for maintenance in summer 2022 has yet to impact price movements. Gas shortages in late Q3 and Q4 2022 are becoming a sensitive issue, but the European customers are most focused on the first unrestricted?holiday since the Covid outbreak. In light?of the trend of price decline, hand-to-mouth purchases will be taken for VA in July?and August 2022. Everything else?will be discussed after the holidays.
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 and the demand is high. In consideration of the shutdown for maintenance in summer 2022 and logistics uncertainty, large terminals have signed the contracts for demand of Q3 2022. Due to low demand, the demand of Q2 2022 will be moved to Q3 2022 as a result. As for actual orders, the prices for spot orders of Q3 2022 has been below EUR9.50/kg.
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 and the market is quiet.
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 and the market remains calm. The traders’?products are also running out and some terminals have begun to take hand-to-mouth purchases for high?price products.
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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 slipped slightly due to low demand. The import?volume from China for the period from December 2021 to March 2022?was?relatively high and the stocks in Europe are sufficient?currently. Some market prices have fallen below EUR19/kg. Affected by the prices in China, the prices for new contracts are expected to be slightly lower than the market levels.
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.
In European market, there has been slight decrease in pricing. Hand-to-mouth purchase is being taken in the market. The demand is being unleashed gradually. The terminals have yet to finish purchasing for the demand of Q3 2022.
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 upwards to EUR27-31/kg with tight supply.
Biotin
In Chinese market, transaction prices have remained steady but weak?while inquiry has been average.
In Europe, the prices for pure product have dropped marginally to EUR280/kg with sufficient supply and low demand. The Biotin 2% prices have been stable at 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 solid at EUR2.1-2.2/kg for European brands. Due to high prices of spot supply, the quotations for Chinese brands have been steady at EUR2.1/kg and the products for new contracts will be lower significantly. The prices of Q3 2022 have been flat at EUR1.6-1.9/kg for cho chl 75%.
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Other news
The freight
Falling import volumes into North Europe amid rapidly deteriorating economic conditions have not provided any relief for hub ports in the region as logistics challenges mount.
<Source:https://www.joc.com/port-news/european-ports/port-hamburg/port-congestion-europe-%E2%80%98critical%E2%80%99-levels-carriers_20220705.html Date: 06/07/2022>
<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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