Weekly vitamins|Downstream demand low, inquiries quiet and overall prices stable

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, inquiries have been quiet and transactions have been average. Prices for most products have been stable and low. Actual orders are mainly based on flexible negotiations. The inquiries?for Vitamin E and Calcium Pantothenate?have been slightly more active and the market prices have been strong. 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 21/10/2022:?USD/RMB?7.1188?????EUR/RMB?6.9949

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 lowest price of European brands has remained at EUR30/kg while the prices for products with Chinese brands have slipped to EUR30/kg or below.

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?last week. The traders are cautious about making offers and the market prices have been stable for the time being.

In Europe, the market prices have gone up slightly and the market is quiet. The demand of most terminals for Q4 2022 has been satisfied and the demand for Q1 2023 has been satisfied by 20%. One large European manufacturer has increased the offers to EUR9.7-9.8/kg for Q1 2023 and EUR9.5/kg for spot products. Yet at the same time, there are only very small number of products available at EUR9/kg or below in South Europe, the price of which is not representative.

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 with slightly increased transactions.

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 EUR23-25/kg. Considering the high risk of the price, the terminals have still taken hand-to-mouth purchases in the market. Although the inquiries have increased suddenly, the transaction price has remained solid at the current level.

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 fallen back marginally to EUR17.5-18.5/kg for new arrival.

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 decreased slightly.?

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 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 European brands. EFSA has delayed the enforcement of the designated strains for Vitamin B12 production. Some organizations of animal feed have predicted?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 remained 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.

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 trended downwards slightly to?EUR4.0-4.2/kg for Q4 2022 and Q1 2023. 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 various brands.

Choline chloride

In China, as the price of trimethylamine has fluctuated at high level, Choline Chloride factories have adjusted their 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 branded cho chl 70% have stayed high at EUR2.35/kg. The exchange rate has played a great impact on the euro price for products with Chinese brands. European terminals have begun to satisfy their demand for Q4 2022 and Q1 2023. The spot price in Europe is DDP EUR1.8-2.1/kg. 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 South China. In Northeast China, the prices have been steady except for certain regions where the prices have decreased slightly. In North?China, the prices have been steady except for certain regions where the prices have fluctuated marginally.

<Source: Feedtrade???????Date: 21/10/2022>

<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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