Market Analysis - Monthly Report - September, 2020 - VB1

1. Market review in September

Although many domestic vitamin B1 factories chose to overhaul from July to September, due to the weak demand side, the B1 market price did not increase. As of the end of September, the domestic VB1 MONO market price has remained at the low level of this year due to close to the factory's production. The cost line has led to factories' willingness to further reduce prices. Therefore, as of the end of September, the domestic vitamin B1 price has stabilized. The market price of VB1 MONO is mostly concentrated at 18-19 USD/KG; the market price of VB1 HCL is mostly concentrated at 25.5-27 USD/KG.

2. Current market conditions

It can be seen from the above table that the quotations of the various factories at this stage are similar, but Tianxin's previous order backlog and the concentrated orders from September to October caused the delivery of its B1 MONO to be postponed to November to December. For some new customers In September, the situation of suspension of reporting has begun. At the same time, in some foreign markets, such as Vietnam, some customers reported that Huazhong Pharmaceutical offered low prices to major terminal customers, and the price was far lower than the current market price, and this price was only for some large-volume terminal customers.

3. ECHEMI forecast

In September, the domestic vitamin B1 price trend continued to be stable. Since October-November is the time for the centralized procurement of annual orders abroad, it is expected that the price of B1 may still remain low in the later period. It is not ruled out that some factories may be affected by inventory backlogs. Some special customer groups will release the possibility of some low-priced sources.