Lysine
70% Lysine:
Jin Yumi: 4.35 (ex-factory)
Meihua: 4.60–4.75 (ex-factory)
Eppen: 4.50–4.70 (ex-factory)
Market transaction: ~4.4–4.7
98% Lysine:
Jin Yumi: 7.80 (ex-factory)
Meihua: 8.80 (ex-factory)
Eppen: 9.00 (ex-factory)
Market transaction: ~7.6
Key dynamics:
End-user demand remains weak. Significant price inversion between factory quotes and market transaction prices for 98% lysine and threonine.
After consecutive price cuts by manufacturers for 70% lysine, factory quotes are now largely in line with market transaction prices.
EU anti-dumping investigation into lysine (initial tariff 55%) – the magnitude of any additional tariffs is a key market focus.
Most transactions are need-based. Due to the wide price gap, new factory orders for 98% lysine have been minimal for weeks.
Jin Yumi lowered its 98% lysine contract price, but this failed to stimulate actual transactions, further dampening market sentiment. This move is seen as a potential precursor to further price cuts.
Meihua and Eppen continue to hold prices firm, maintaining a wide price gap.
Outlook: The key question is whether manufacturers can withstand inventory pressure, leading to stabilization and a potential rebound, or whether mounting order pressure forces them to cut prices in line with market levels.
Threonine
Factory quotes:
Meihua: 10.5
Eppen: 10.5
Fufeng: 10.5
Xiangyu: 10.3
Market transaction: ~9.8
Key dynamics:
Weak end-user demand.
Notable price inversion between factory quotes and market prices, especially for 98% lysine and threonine.
Methionine
Supply disruptions:
Adisseo (impacted by Yangzi Petrochemical liquid supply shortage, supply gap expected to last ~40 days) has suspended new orders for both liquid and solid methionine.
CJ CheilJedang remains on order halt.
Evonik, ZiGuang, New Hope Group have not released new quotes or bundled pricing policies.
Key dynamics:
Significant volumes of low-priced backlog contracts from earlier periods remain to be fulfilled, creating delivery pressure.
Market transaction activity picked up notably this week, partly driven by short-covering on futures contracts.
Market quotes/transactions range from 38.5–42, with further widening of price spreads.
As speculative stock is gradually absorbed, manufacturers are increasingly inclined to hold prices firm.
Tryptophan
Factory quotes:
CJ CheilJedang: 37.5
Fufeng: 37
Xiangyu: 35.5
Market transaction: ~37 (need-based buying)
Valine
Factory quotes:
Meihua: 14.1
Huheng: 14.1
Eppen: 14.1
Key dynamics:
Manufacturers offering low-priced valine as a bundled deal with lysine contracts.
As a result, market transaction prices for valine softened to ~13.5.
Summary & Key Watch Points
Lysine (especially 98%) and threonine are under the most pressure. The contradiction between firm factory pricing and weak end-user demand is acute. Whether the price inversion resolves depends on production cuts or further price reductions.
Methionine is sentiment-driven in the short term due to Adisseo's supply gap. However, the impact of earlier low-priced contract deliveries on the spot market remains a concern.
EU anti-dumping on lysine – the new tariff level, if any, will be a key variable in the coming weeks, potentially further suppressing export demand or forcing manufacturers to cut domestic prices.