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Zhejiang NHU announced on December 26 a letter of intent to form a joint venture with Sinopec Zhenhai Refining to build a methionine production facility, with total investment of about 3 billion yuan. The article notes China is the world's largest methionine consumer, using about 200,000 tons a year and relying largely on imports.
New domestic methionine capacity would gradually reduce China's reliance on imports and could ease the supply tightness behind methionine prices over time. The effect on near-term prices is limited because the plant is only planned.
chinastockmarketnews.comChina Stock Market NewsDec 27, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
