Methionine Prices: Price, Trend, Pricing, News, Analysis | ChemAnalyst

For the Quarter Ending September 2023

North America

In July, Methionine prices witnessed a notable decline of 6.47%, followed by a slight uptick of 8.18% in August and a modest increase of 5.04% in September. During July, both local and global demand for Methionine dwindled, leading to reduced new order inquiries and sales. The Federal Reserve’s decision to raise its main policy interest rate by a quarter percentage point in July, the highest in 22 years, contributed to an overall decrease in demand, supporting the downward trend. However, prices rebounded in August and September due to a surge in energy prices, which elevated total company expenditures and transportation costs, consequently driving up Methionine pricing. The reduction in gasoline prices resulting from supply cutbacks by Russia and Saudi Arabia, along with diminished imports from key exporting nations like China, further constrained supply and boosted prices in the US market. The market’s emphasis on inventory replenishment also contributed to the increase in Methionine prices, concluding at USD 2710/MT CFR New York at the end of Q3.

Asia Pacific

In July, Methionine prices in the Asia Pacific region experienced a significant decrease of 6.93%, followed by a modest increase of 12.87% in August and a slight rise of 4.00% in September. The decline in July was attributed to a slowdown in industrial activity and decreased demand from downstream industries. With the official manufacturing PMI in China indicating a fourth consecutive monthly fall in factory activity to 49.3, lower foreign orders and insufficient local demand contributed to the drop in Methionine prices. Prices rebounded in August and September due to heightened end-consumer demand and limited supply resulting from the industrial sector’s fifth consecutive month of decline. Despite economic concerns, China’s central bank reduced its main interest rate, stimulating market consumption and causing an increase in Methionine costs in China. In September, China’s manufacturing PMI showed a slow return to growth, signaling the revival of industrial activity and predicting a positive economic resurgence. Methionine prices concluded at USD 2600/MT FOB Shanghai at the end of Q3.

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In July, Methionine prices in Europe experienced a significant decrease of 6.60%, followed by a modest increase of 9.64% in August and a further rise of 4.69% in September. The decline in July was attributed to a slowdown in business activity and reduced demand in the downstream sector. Factors such as customer apprehension, destocking, rising borrowing rates, tightening market conditions, and economic and geopolitical uncertainties contributed to the sharp reduction in goods demand. Prices rebounded in August and September due to ongoing inflation, rising interest rates, and an oil crisis. Germany’s inflation rate in August was +6.1%, driven by increases in the consumer price index (CPI) for food and energy. Energy prices surged 8.3% year on year in August, following a 5.7% increase in July, leading to higher operating costs for businesses and subsequently higher Methionine prices in Germany. Prices concluded at USD 2680/MT CFR Hamburg at the end of Q3.

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