Weekly vitamins|Downstream demand low and overall transactions sluggish amid hand-to-mouth purchases

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 sluggish. Prices for most products have been stable and weak. Actual orders are mainly based on flexible negotiations. The inquiries and transactions of Niacin and Inositol have been slightly more active, which has helped to push up their offers. 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 11/11/2022:?USD/RMB?7.2422?EUR/RMB?7.2523

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 been stable and the market has remained quiet. The terminals are waiting for further information at EUROTIER 2022?next week. The manufacturers have kept the offers at the current level.

Vitamin E????????????????????????????????????????

In China, the market prices have been stable and weak but dropped in certain regions based on different brands and production dates. The downstream demand has been low and the terminals have taken hand-to-mouth purchases.

In Europe, the market prices have slipped marginally. The rumor has spread that one European manufacturer will increase their offers. Other manufacturers who bought VE oil to spray the VE powder have lowered the prices?of a small number of products?to EUR9/kg or below.

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.

Calcium pantothenate

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

In Europe, the market price has stabilized at EUR22-25/kg. As there is a price difference between the Chinese and European market, the new offers of some brands with CIF European port are trending downwards. To avoid the risks, the terminals are still taking hand-to-mouth purchases.?

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 remained unchanged at EUR17-17.5/kg.

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. Due to the cost increase of energy and raw materials as well as the monopoly of European manufacturers, the offers for Q1 & Q2 2023 have trended upwards drastically to EUR18-20/kg.

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 remained at DDP EUR15.5/kg.

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 EUR15-29/kg with a wide range. The prices of Chinese branded products have remained low at EUR15/kg while those of European branded products have stayed high at EUR29/kg. 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, some factories have tended to uphold their offers as a result.

The European market prices have fallen slightly to EUR24.5-27/kg.

Vitamin C

In China, the market offers have been slightly stronger, the demand has been average?and the inquiries have been low. Impacted by the market information, the mainstream factories decided to suspend making offers. Wait-and-see is prevailing the market.

In European market, the prices of pure products?have been offered at EUR3.0-3.2/kg. The VC coated prices have?risen marginally to EUR4.25/kg. The VC mono?prices have stabilized at EUR2.3-2.5/kg. Due to the offer suspension in China and decreased freight rates, some European dealers have begun to purchase the products from China at?FOB USD1.8-1.9/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?prices have remained solid at EUR28-32/kg.

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 and Biotin 2% have been steady at EUR230/kg and EUR5.3-5.5/kg respectively.

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 stayed at?EUR3.8-4.2/kg for Q4 2022 and EUR4-4.2/kg for Q1 2023.

Inositol

In China, quotations are?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 EUR22.5-25/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 with a small number of stocks?available. For cho chl 75%, the prices have stayed at EUR1.9-2.0/kg for Q4 2022 and the prices for Q1 2023 are being negotiated.

Other news this week

CFT data show that corn prices have been steady in Northeast China, South China and North China except for certain regions where the prices have increased slightly.

<Source: Feedtrade???????Date: 11/11/2022>

<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>

Copyright Notice

The content above is copyright of Shanghai Mobao E-commerce Co., Ltd. and may not be reproduced without permission. Copyright also exists in all other indicated sources of information and may belong to the author depending on the circumstances of use.?