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Sumitomo Chemical will close an older methionine facility at its Ehime, Japan site, a year after opening a new 100,000-metric-ton-per-year unit there. Evonik and Novus International are also adding methionine capacity.
Sumitomo says global methionine demand is growing about 6%, or roughly 80,000 tons, a year.
The closure swaps old capacity for a newer plant, so net supply changes little, while demand growth is still outpacing additions across the industry. Methionine prices are likely to stay firm, supported by the broader capacity build-out.
cen.acs.orgMichael McCoyOct 12, 2019
doi.orgMichael McCoyOct 14, 2019Not 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.
