Weekly vitamins| Downstream demand low, inquiries and transactions average and prices stable and low for most products

Market information this week

Overall market has been stable but weak in China. Affected by various factors, upstream factories tend strongly to uphold their quotations. Because of the cash flow pressure created by stocking, distributors have been highly active in destocking. Hand-to-mouth purchases are dominating the market. The downstream demand has been low and inquiries as well as transactions have been average. Prices for most products have been stable and low. Actual orders are mainly based on flexible negotiations. Impacted by the price information of one leading manufacturer, the market price for Vitamin E trended downwards for a short time and then bounced back to the previous level. Due to the uplifted cost of trimethylamine, Choline Chloride factories have increased their offers drastically while some factories have decided to suspend making offers as a result. Recently, the export inquiries for Calcium Pantothenate have increased and the market prices have trended upwards slightly. Attention should be paid to production and delivery status of the factories.

Most vitamin products are at a disadvantage in Europe.

*Note:?RMB prices exclude VAT rebates for export.

Calculation Formula: RMB price/exchange rate/ (100%+ 13% for VAT rebates)

Exchange rate on 14/10/2022:?USD/RMB?7.1101?????EUR/RMB?6.9199

Vitamin A

In China, demand has been weak, inquiry has become average, prices have remained stable and low in certain regions,?and the transactions have been sluggish.

In Europe, prices have decreased slightly. The products have been offered between EUR31-32/kg based on different brands and customers while the lowest price has remained at EUR30/kg. There has been little price difference between different brands yet.

Vitamin E

In China, impacted by the price information of one leading manufacturer, the market price for Vitamin E trended downwards for a short time and then?bounced back to the previous level.

In Europe, the market prices have been stable and the market is quiet. The price level has stayed at EUR9/kg or above. The demand of large terminals for Q1 2023 has been satisfied broadly.

Vitamin D3

In China market, prices have remained?stable but low. Dealers have been active in destocking. Demand and inquiry have been average.

In Europe, there has been no change in pricing. Due to extremely low demand, some manufacturers are still trying to meet?their sales target?of this year by satisfying?the demand from terminals for next year.

Calcium pantothenate

In China, the market prices have stabilized after trending downwards drastically. The demand has been average.

In Europe, the market price has gone up slightly to EUR22.5-25/kg. The inquiries have increased suddenly, which is probably caused?by the offer suspension of those manufacturers previously. Most of their inquiries are just to satisfy their spot demand for October and November 2022 while the unleashed demand is limited yet. Considering the exchange rate, one large manufacturer has increased euro price slightly to EUR25/kg. However, some dealers have offered lower prices at EUR22.5-23/kg trying to reduce their stocks and get cash back before the end of the year.

Vitamin B1

Impacted by the elevated cost, factories tend strongly to uphold their quotations while downstream demand has been low and inquiry has been average, leading to steady and weak prices as a result.

European market prices have converged between EUR18.5-19.5/kg for new arrival in November 2022 based on different product characters.

Vitamin B2

In China, demand is average. The overall quotations have been stable but dropped in certain regions based on different brands and production dates.

In European market, the price has been stable.

Vitamin B6

In China, market prices?have been stable and low. Demand?and inquires have been average.?More attention?should be paid to production and quotation?status from factories.

In European market, the prices have stabilized at DDP EUR16/kg and the prices are expected to be EUR15.5/kg?for new arrivals in this November.

Vitamin B12

In China, the quotations have been weak?and inquiry has been flat. Downstream demand has been?weak?and supply has been sufficient. Attention should?be paid to market demand and?stock level?change.

In European market, the products?have been offered at EUR16.2-29/kg based on different brands. EFSA has delayed the enforcement of the designated strains for Vitamin B12 production. Some organizations of animal feed predict that the existing strains and brands of VB12 will be used legally until Spring 2024 after one year transition period.

Vitamin K3

In China, the market prices have been steady. The demand has been average and inquiry has been sluggish.?Caused by the tight supply of raw material, the leading?manufacturers have decided to suspend making offers finally.

The European market prices have been steady at EUR25-27.5/kg. The stock is low and the demand is still weak.

Vitamin C

In China, demand has been average, inquiries have been low and the prices have been stable and weak.

In European market, the prices of pure products?for November 2022 have been offered at EUR3.2/kg. The VC coated prices have been solid at EUR3.8-4.1/kg. One manufacturer with their warehouse in Europe has increased VC mono?prices to EUR2.5/kg, which has helped to push up and stabilize the market prices at EUR2.3-2.5/kg.

Folic acid

In Chinese market, downstream demand has been continuously low. Market inquiry has been sluggish and prices have been stable but low. Distributors have been active in destocking.

In Europe, the?market?has seen little?change in prices last week.

Biotin

Inquiry has been average and transaction prices have?been?flat and weak in China.?In certain regions, the price is slightly lower.

In Europe, the prices for pure product have stayed at the lowest level of EUR240/kg and the terminals have started to open a position. Biotin 2% prices have remained unchanged at EUR5.4-5.7/kg.?

Nicotinamide

In Chinese market, the prices have been close to bottom level with low demand and average inquiries. Attention should be paid to production and delivery dynamics.

In Europe, the?market?prices?have stabilized at?EUR4.2-4.4/kg for Q4 2022 and Q1 2023. Some dealers have offered the products at EUR4/kg to reduce their stocks. Due to the decreased freight rate, the prices are likely to fall further in later period.

Inositol

In China, quotations have been varied with?different brands and manufacturing dates.?Market inquires have been slightly more active, making market prices strong as a result.

In European market, the new offers have stayed strong at EUR22.5-23.5/kg based on different brands.

Choline chloride

In China, due to the uplifted cost of trimethylamine, Choline Chloride factories have increased their offers drastically while some factories have decided to suspend making offers as a result. ?Attention should be paid to any further cost change and production & delivery performance.

In European market, impacted by the price increase of cho chl 75% (liquid), the prices of European brand cho chl 70% have stayed high at EUR2.35/kg. The prices of Chinese brands have increased this Wednesday owing to the rising cost of raw materials in China. Due to the Covid outbreaks in China and the strict control measures on the factory, one Chinese manufacturer has withdrawn their offers as a result. European terminals have begun to satisfy their demand for Q4 2022 and Q1 2023. The spot price in Europe is DDP EUR1.8-2.0/kg and the price for Q1 2023 is expected to be lower. For cho chl 75%, the prices have stayed at EUR1.9-2.0/kg for Q4 2022 because of the cost increase of energy and raw materials.

Other news this week

CFT data show that corn prices have remained stable?in Northeast China, North China and ports areas. In South China, the prices have been steady except for certain regions where the prices have increased.

<Source: Feedtrade???????Date: 14/10/2022>

<Source: Sina Finance>

Note: Global?futures data is “As of yesterday” due to time difference

<Source: Investing.com>

Note: Data for items with “*” is “As of yesterday” due to time difference.?

<Effamall.com>

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