Vitamin Report 2023
In the short term: after maintenance season, domestic vitamin part of the factory maintenance and raw material prices and other factors to drive upstream factory price sales, some varieties of prices tend to be firm, is currently in the vitamin off-season stage, and this year's continuous lack of demand makes "peak season is not strong, off-season is lighter, the era of profiteering in the vitamin industry has passed, and then in order to cope with this serious overcapacity, technical barriers gradually disappeared, continued weakness and sluggish market conditions, practitioners must make corresponding adjustments. The vitamin market demand situation is seriously insufficient, so the market purchase and sales situation is still weak, and the market price is mainly weak consolidation. In the second half of the year, there is not too obvious good news, the third quarter is still more pessimistic, now can only hope forthe fourth quarter, the overall vitamin market is difficult to get rid of the weak operation pattern.
Our vitamin report only represents the view of Beijing Jingmu Group Corporation.
VA price is stable
Vitamin A prices are running low, with the mainstream price of feed-grade vitamin A market USD18.5-19/kg, and the European market quotation of 20-24 euros/kg. The vitamin A market trading is stable, due to the extension of maintenance of foreign vitamin A manufacturers, both the market production and sales are weak.
D3 price is stable
Lanolin has become the only legal raw material for vitamin D3, but the extraction cost of this raw material is high and the process is complicated so the investment is huge. In the first half of 2022, D3 raw material prices rising, but due to frequent outbreaks of epidemics, D3 price dropped below the cost line of the manufactures. D3 500 market price is around USD6.7/kg.
VE dropped slightly
This week's vitamin E price is low, and the current VE market mainstream quotation is between USD7.2/kg to USD7.5/kg. The European market offers 7-7.5 euros / kg. Some top domestic manufacturers are in the maintenance period,suspended quotations, and so do DSM VE products on August 1, increasing market attention. On September 14, the market DSM VE quotation was raised to USD8.6/kg.
K3 price fell then rebounding quickly
At present, the global production capacity of vitamin K3 is about 13,000 tons/year, of which more than 80% is located in China, and China has become the world's largest vitamin K3 production and application country. The global production capacity of vitamin K3 is high, but the development of the global aquaculture industry has been relatively stable in recent years, and the demand for vitamin K3 has grown slowly, resulting in overproduction of vitamin K3 in China. The global industry operating rate is only about 53.8%, and the industry development is relatively sluggish, so the future vitamin K3 competition will gradually develop to an oligopoly pattern. K3 MSB to USD7.9/kg, K3 MNB to USD9.2/kg.
VC price is back to rock bottom
Vitamin C is even more difficult, the already imbalance between supply and demand is even worse under the double blow of serious capacity overload and weak demand, the industry has experienced general losses, many companies have low dry cost line to make profit shipments, such as at the end of June "DSM-Firmenich decided to seek other strategic business methods for its vitamin C production plant based on a continuous assessment of the company's operations and supply capacity", under high pressure,manufacturers had to make strategic adjustments to stop losses in time. In 2023, global VC prices will enter a record low, market price for Vitamin C 99% price is around USD2.3/kg, vitamin C 97% is USD2.5/kg and vitamin C 35% is around USD1.75/kg.
B1 price rose slightly
The market said that some B1 manufacturers stopped quotation again, market concerns increased, and the price went up. At present, the market inventory is large, so there should be no significant increase trend. B1 mono feed grade market price is around USD12.3/kg. B1 HCL feed grade price is USD19-USD20/kg.
B2 price stable
B2 is a oversupply market. In order to ensure continuous production and retain the regular customers, most of B2 manufacturers take measures of reducing production now. There is no sign of an increase at present, B2 80% transaction price is in the range from USD11.3/kg to USD13.5/kg. Generally speaking, the short-term upward momentum is insufficient.
B3 price no upward trend in short term
At present, due to the weak demand for pesticides, pyridine production reduced, that has caused a shortage of 3-Cyanopyridine. The shortage of raw materials is not expected to be alleviated before the end of the year. In its current form, please consider purchasing sooner rather than latter. The market inventory is small. The transaction price is around USD5/kg.
Choline chloride price rose slightly
Due to the oversupply for the raw material trimethylamine, huge inventory, the CC price continue to fall. The market demand is weak, the end users keep wait-and-see attitude. CC price dropped to the all-time low in 2020. Influenced by raw materials and demand, the market has recently reflected that some manufacturers' offers have dropped to CNY3,950/ton before Mid-June. Trimethylamine price rose slight, and the market has retraced. CC price is as follow: CC 60% with corn cob carrier is USD610/mt to 620/mt; CC 50% with silicon dioxide carrier is around USD730/mt; CC 70% is USD710/mt. The price is predicted to increase more.
B5 price touched cost line
The quotation in the European market is 10-12 euros/kg, In early May, the market offer rebounds. Leading manufacturers hold the firm attitude to increase the price. the market reported that some factory quotations were raised to USD16.5/kg. The market quotation rebounded, On June 20, some B5 manufacturers' quotations were raised to USD17/kg. Low-priced goods in the market decreased. But the increase in third-tier manufacturer , such as Dalian manufacturer, has led to market prices weakness. Real transaction price is around USD8.7/kg. The demand is weak, The market inventory is small, and the possibility of a slight increase cannot be ruled out.
B6 price is upwards
Since February this year, the price of B6 has risen steadily from USD12.7/kg to USD17.9/kg. B6 has been running at a low level more than 2 years, and the manufacturers have been in a state of loss. At the beginning of May, some B6 manufacturers stopped quotation and mainly to execute the signed contracts. In early June,some B6 manufacturers have increased the price to usd16.5/kg, the market turnover improved, and the price has rebounded.There is less inventory in the market now. Tianxin plans to start a 6 to 8 weeks summer shutdown for maintenance from July 1. B6 price will keeping going up.
Biotin stable
With the biotin industry transferring to China continually, the current global biotin demand is almost entirely supplied by Chinese manufacturers. At present, the global Biotin pure capacity reached 400mt/year, Chinese manufacturers occupy 97% of the global market. Due to the huge production capacity exceeding the actual requirement and weak demand, all of Biotin manufacturers loss on the production. The market inventory is huge. Biotin pure price is around USD210/kg, Biotin 2% is USD4.5/kg.
B9 price is around the cost line
Chinese capacity of Folic Acid occupy more than 90% of the whole world. NIUTANG is the largest Folic Acid manufacturer. Due to large output and weak demand, Folic Acid price dropped to USD23.9/kg
B12 pirce rise a little
VB12 downstream demand is weak, inquiries are relatively small, terminal customers basically purchase a small amount on requirement. At present, Cyanocobalamin price is at the range of USD1460/kg to USD1500/kg. USD B12 1% market price is around USD12.3/kg. So far, B12 sees no significant upward momentum in price.
Inositol price low and slightly vibration
Inositol prices have remained high for almost two years. This is based on good cooperation between manufacturers. Huaheng is a new comer. Inositol capacity is 100mt/month. Due to new comer, inositol price dropped slightly. Haotian inositol price is around USD19/kg, second rank brand price is around USD18/kg. Inositol market is keeping to be focused but industry insiders don’t consider the rise will be long-term trend. So we suggest that purchase and use as required. USD12.9/KG.
