July 17, 2013
Flat demand, tough competition drag down China lysine prices
Lysine prices continued to slide during the week ending July 16.
Although soymeal prices strengthened of late with CBOT soy prices firming up, feed millers and animal producers were not eager to stock lysine inventories in view of low soymeal prices amid abundant supplies.
Meanwhile, competition in the lysine market heated up as producers readily cut prices in a bid to ease inventory pressure.
Price quotes of 98.5-percent lysine reduced to RMB10.40-10.60/kg.
Lysine market is expected to weaken further as buyers withhold procurements while producers fight for sales.
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