APIs and Vitamin MARKET - The weak demand for the APIs

The weak demand for the APIs is gradually released, especially before the May Day holiday, there was a replenishment demand, pulling up the transaction volume. The domestic market recently appeared to have a slight rebound, ending a half-year-long slow decline. The price of APIs included a significant increase in logistics costs due to the pandemic. Their price support is getting more substantial for the APIs in the low price range. The recent considerable rise of domestic pig prices pushes more stock up of Tylosin, Tilmicosin, Florfenicol, and other trade channels.

In April, the strengthening of epidemic control across China did not change the downward trend of APIs prices. The market demand continued to increase to a limited extent, and the short-term general rising market lacked strong support from terminals. The central government introduced relevant policies to support the logistics and transportation industry, and trans-regional transportation will be improved. However, the logistics pressure of foreign trade has been gradually increasing since the end of March. The control of Shanghai port forced export goods to transfer to Ningbo and Qingdao ports, resulting in a current lousy situation such as severe cargo congestion and continuous shipping delay in the three piers at the same time.

The security of the supply chain has been questioned and is worthy of more attention. Product price is secondary in comparison.

The Florfenicol market price has been hovering for some time at RMB430/KG. Supported by costs, there is little room left for the market to fall, but it has shown signs of a rebound in recent days. Due to the difficulty of delivery, the factory began implementing the order queuing strategy and suspended quoting.

Amidst expanding production capacity, the mainstream factories' negotiable quotation continues declining, down 4.5% MoM and 32.6% YoY, to a 3-year low. While it is still in the bottom stage, given the increasing costs and expenses and the market's reliance on this product, more close attention needs to monitor the market changes and choose the best purchase time.

The adjustment trend has been maintained since 2022. The current prices of Tylosin/Tilmicosin began to lift slightly, up 4-6% from the previous month, but falling by approx. 30% YoY. It is suggested to build positions and no longer bearish.

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Prices of the majority variety of vitamins in the domestic market are stable, and the market is weak. The terminal procurement is dominated by just-in-time replenishment, low market turnover, and bargaining deals are predominant. Mainstream factories continue to express their willingness to raise prices as production costs rise in all steps. Under the epidemic, different regions have practised various logistics control measures, and there is a particular gap in prices between regions. The export logistics are severely hampered, increasing uncertainty about logistics costs and shipping schedule. This situation will be easier to predict with the regular management of China's prevention and control.

With a simple supply pattern and stable demand, vitamin E can be considered a dominant variety of vitamin feed supplements and an indicator product for the boom of the animal farming industry. We should keep a close eye on the disturbance of relevant events to its market trend to ensure the stability and sustainability of the supply chain.

Vitamin E 50% was quoted at RMB88-92/KG this month. The price fluctuates high, and most industry players believe in a bullish trend.

After a period of dynamic and rapid growth, D-Calphan entered a price consolidation phase and focused on inventory depletion. Quotations vary slightly from brand to brand. Due to the increasing cost, there is a case for the factory to raise the price. If demand picks up, the new price will be reflected in the market. The export quotation is around USD68/KG for reference.

Raw material costs of Vitamin B2 have been rising. On April 20th, the market reported that some factories stopped quotation, and on April 25th, Guangji (Mengzhou) raised the export price of Vitamin B2 (80% feed grade) to US$16/kg. On April 26th, NB Group followed the price increase.

The price of trimethylamine, a leading raw choline material, has recently gone up significantly, and many choline manufacturers stopped quoting. The market price fluctuated at a high level. The latest 50% choline chloride EXW quotation exceeds RMB8000 per ton; More close attention is needed.

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10%/30% AMOXICILLIN SP

OEM product of antibiotics premix used in complete feed for disease prevention and treatment.

Active ingredient: Amoxicillin Trihydrate

A semi-synthetic penicillin drug, Amoxicillin plays an antibacterial role by inhibiting bacterial cell wall synthesis. Amoxicillin is insoluble in water. AMOXIDIS is formulated with innovative technology for a free soluble and stable premix and total efficiency in administration.

Amoxicillin is very efficient and has a small dose in practical application. The Amoxicillin premix is presented with 10% and 30% content.

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Broad Spectrum Antibiotic Against Bacterial Infections. Florfenicol 4% microencapsulated, 10% water-soluble, 20% water-soluble, 20% coated for the treatment of bacterial diseases of pigs, chickens and fish caused by sensitive bacteria, especially for respiratory system infections and intestinal.